Multiple Choice
(Figure: Production Function II) Which of the following statements are TRUE? 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
Correct Answer:

Verified
Correct Answer:
Verified
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