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Answer :
The correct equation among the given options is: d. AP = TP/N
Explanation:
This equation relates Average Product (AP), Total Product (TP), and the Number of units (N). To explain this equation step-by-step:
1. Total Product (TP) represents the total output or production generated with the given number of units.
2. Average Product (AP) is the average output produced per unit of a variable input (such as labor).
3. Number of units (N) represents the total number of variable inputs used in the production process.
4. To calculate the Average Product, you need to divide the Total Product by the Number of units used in production.
So, the equation is: AP = TP/N
This equation demonstrates that the Average Product is a measure of the productivity of each unit involved in the production process. In other words, it shows the average contribution of each unit towards the Total Product.
Practical question related to TP, AP and MP.
https://brainly.com/question/23721969
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