Multiple Choice
(Figure: Production Function I) Which of the following statements is (are) TRUE? I. At L = 5, MPTL > APL.
II) At L = 2, MPL = APL.
III) For this production function, MPL is greater at L = 2 than at L = 8.
IV) For this production function, MPL is always greater than APL.
A) I and II
B) III
C) I and IV
D) II
Correct Answer:

Verified
Correct Answer:
Verified
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