Multiple Choice
The average product of labour equals
A) the slope of the total product curve.
B) the slope of the marginal product curve.
C) the increase in total product divided by the increase in labour employed.
D) total product divided by the quantity of labour employed.
E) the difference between the total product and the marginal product of labour.
Correct Answer:

Verified
Correct Answer:
Verified
Q24: The implicit rental rate<br>A)is the firm's opportunity
Q25: Flora's Flowers bought a new van last
Q26: Use the table below to answer the
Q27: The marginal cost (MC)curve intersects the<br>A)ATC,AVC,and AFC
Q28: Which one of the following statements is
Q30: A cost that has been incurred and
Q31: The law of diminishing marginal returns refers
Q32: Marginal cost equals<br>A)Q/TVC.<br>B)ΔTFC/ΔTC.<br>C)ΔTC/ΔQ.<br>D)ΔQ/ΔTVC.<br>E)(TC - TVC)/Q.
Q33: Use the figure below to answer the
Q34: Use the figure below to answer the