Which of the following statements correctly describes the curves in the figure?
A) Curve A could represent either the average product curve or the marginal product curve. Curve B represents the total product curve.
B) Curve B could represent either the average product curve or the marginal product curve. Curve A represents the total product curve.
C) The marginal product of labor curve is represented by curve B and the average product of labor curve is represented by curve A.
D) The marginal product of labor curve is represented by curve A and the average product of labor curve is represented by curve B.
C
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The rate of return that households expect on their savings is determined by:
A) exchange rates. B) interest rates. C) government expenditure. D) tax rates.
If a 20 percent increase in the price of a good does not change the quantity supplied, the
A) supply is perfectly inelastic. B) supply is unit elastic. C) supply is perfectly elastic. D) supply is elastic. E) None of the above answers is correct.
Automobile manufacturers often use incentive programs, including special financing rates and cash rebates, to increase sales. However, a customer is usually restricted to choosing either the low financing rate or the rebate, but not both
Is this an example of price discrimination? If so, what type? Explain your reasoning.
C + I + G + X equals
A. NDP. B. DPI. C. PI. D. GDP.