Refer to Figure 6.1. Which of the following statements is false?
A) At point E the marginal product of labor is decreasing.
B) At point E the marginal product of labor is negative.
C) At point E the average product of labor is decreasing.
D) At point E the average product of labor is negative.
E) At point E the marginal product of labor is less than the average product of labor.
D
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Figure 7-9
Of the graphs in Figure 7-9, which represents average fixed cost?
A. 1 B. 2 C. 3 D. 4
Patents stimulate innovation by
a. providing incentives to incur research and development costs b. guaranteed profits for those who innovate c. prosecuting anyone who purchases the good protected by the patent d. providing tax breaks to investors e. increasing the interest rate on borrowed funds