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    (Figure: Production Function V) Refer to the Production Function, Which
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(Figure: Production Function V) Refer to the Production Function, Which

Question 73

Question 73

Multiple Choice

(Figure: Production Function V) Refer to the production function, which has a slope of 1/L0.5. (Figure: Production Function V)  Refer to the production function, which has a slope of 1/L<sup>0.5</sup>.   The average product of labor for L = 1 is ____. A)  1 B)  0.705 C)  0.577 D)  0.5 The average product of labor for L = 1 is ____.


A) 1
B) 0.705
C) 0.577
D) 0.5

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