Solved

Which of the Following Statements Is True

Question 258

Multiple Choice

Which of the following statements is true?


A) The average product of labor is at its maximum when the average product of labor equals the marginal product of labor.
B) The average product of labor is at its minimum when the average product of labor equals the marginal product of labor.
C) The average product of labor tells us how much output changes as the quantity of workers hired changes.
D) Whenever the marginal product of labor is greater than the average product of labor the average product of labor must be decreasing.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions