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Answer: Option (a) is correct.
Explanation:
Figure attached with this answer shows the two curves, namely, average product curve and marginal product curve.
Marginal product refers to the change in the total output divided by the change in the quantity of inputs used.
Average product is calculated by dividing the total output produced with the quantity of inputs or factors of production used.
The relationship between marginal product and average product is explained by three phases:
(1) Average product is rising,
Marginal product is greater than the average product.
(2) Average product is maximum,
Marginal product is equal to average product.
(3) Average product is falling because of diminishing marginal utility,
Marginal product is less than the average product.
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Answer:
1. merchant
2. agent and brokers
Explanation:
Merchant wholesalers buy from manufacturers and sell to other businesses. Agents and brokers are essentially independents who provide buying and selling services.
Answer:
Engagement is a sense of purpose, belonging, and commitment to an organization, whereas motivation is the willpower and drive to act on those feelings.
Internal motivation may lead us to take some action; for many, engagement refers to what we experience during the activity
Explanation:
Internal motivation may lead us to take some action; for many, engagement refers to what we experience during the activity.