Average Product

Business, Legal & Accounting Glossary

Definition: Average Product


Average Product


Full Definition of Average Product


The average product of a factor in a firm or industry is its output divided by the amount of the factor employed.


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https://payrollheaven.com/define/average-product/
Modern Language Association (MLA):
Average Product. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
March 29, 2024 https://payrollheaven.com/define/average-product/.
Chicago Manual of Style (CMS):
Average Product. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/average-product/ (accessed: March 29, 2024).
American Psychological Association (APA):
Average Product. PayrollHeaven.com. Retrieved March 29, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/average-product/

Definition Sources


Definitions for Average Product are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.