Use the Following Statements to Answer This Question: I

Multiple Choice

Use the following statements to answer this question: I. Under profit maximization, the quantity of labor used in production is optimal if MR = w/MP_L.
II) The expression MR = w/MPL implies that the revenue earned from the last unit of output produced equals the marginal cost of the last unit of output.

A) I and II are true.
B) I is true and II is false.
C) II is true and I is false.
D) I and II are false.