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(Figure: Production Function II) Which of the Following Statements Are

Question 40

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(Figure: Production Function II) Which of the following statements are TRUE? (Figure: Production Function II)  Which of the following statements are TRUE?   I. This production function exhibits diminishing marginal product. II)  At L = 3, MP<sub>L</sub> = 1.88 and AP<sub>L</sub> = 4. III)  At L = 6, AP<sub>L</sub> > MP<sub>L</sub>. IV)  At L = 3, MP<sub>L</sub> = 4 and AP<sub>L</sub> = 1.88. A)  II and III B)  I, II, and III C)  I, III, and IV D)  I and II I. This production function exhibits diminishing marginal product.
II) At L = 3, MPL = 1.88 and APL = 4.
III) At L = 6, APL > MPL.
IV) At L = 3, MPL = 4 and APL = 1.88.


A) II and III
B) I, II, and III
C) I, III, and IV
D) I and II

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