Multiple Choice
When labor is the variable input, the average product equals the:
A) marginal product divided by the number of workers.
B) marginal product multiplied by the number of workers.
C) number of workers divided by the quantity of output.
D) quantity of output divided by the number of workers.
Correct Answer:
Verified
Correct Answer:
Verified
Q125: Fixed costs exist only in the:<br>A) long
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Q128: If marginal cost is less than average
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