Match the following. List-I List-II a. AP × L 1. Marginal product b. TUn – TUn – 1 2. Marginal utility c. TPn – TPn – 1 3. Total product

The correct answer is: D. a-2, b-1, c-3

a. AP × L = Total product

b. TUn – TUn – 1 = Marginal utility

c. TPn – TPn – 1 = Marginal product

Here is a brief explanation of each option:

a. AP × L = Total product

The average product of labor (AP) is the output per worker. The total product of labor (TP) is the total output produced by all workers. Therefore, the product of AP and L is the total product.

b. TUn – TUn – 1 = Marginal utility

The marginal utility of a good is the additional satisfaction a consumer gets from consuming one more unit of that good. The total utility of a good is the total satisfaction a consumer gets from consuming all units of that good. Therefore, the difference between the total utility of a good and the total utility of the good one unit ago is the marginal utility of the good.

c. TPn – TPn – 1 = Marginal product

The marginal product of labor is the additional output produced by hiring one more worker. The total product of labor is the total output produced by all workers. Therefore, the difference between the total product of labor and the total product of labor one worker ago is the marginal product of labor.