Outputs and costs-average and marginal product of labor

Assignment Help Business Economics

Reference no: EM13898732

Outputs and Costs; Average and Marginal Product of Labor

Which of the following statements about the relationship between average product of labor (APL) and marginal product of labor (MPL) is correct?

A. If MPL > APL, then MPL must increase as labor input increases

B. If MPL < APL, then APL must increase as labor input increases

C. If MPL = APL, then APL must increase as labor input increases

D. If MPL = APL, then APL is at its minimum value

E. If MPL = APL, then APL is at its maximum value

Reference no: EM13898732

Questions Cloud

Suggestions for market failure research : The following are some ideas to help you pick a topic for the Market Failure Research Paper assignment. Consult with your instructor if you are having trouble picking a topic. What are some areas where the MARKET Fails to give us adequate quantity of..

Vertical axis and the output on the horizontal axis : Graph the estimate of the AD and AS curves clearly showing the equilibrium point indicating the price on the vertical axis and the output on the horizontal axis.

Total output or real gdp will be : Assume that an economy has 1500 workers, each working 2000 hours per year. If the average real output per worker-hour is $20, then total output or real gdp will be?

Outputs and costs-average and marginal product of labor : Which of the following statements about the relationship between average product of labor (APL) and marginal product of labor (MPL) is correct?

What internal and external relationships must be considered : What are appropriate communication methods for managers within this organization and What is the importance of these communication methods within this organizational structure?

Outputs and cost-diminishing marginal returns : According to the law of diminishing marginal returns, which of the following is true?

Cost is increasing quantity of output produced increase : In the short run, if average variable cost is increasing as the quantity of output produced increases, which of the following must be true?

What are the steps in the planning process : How will you meet the organizational goals, while remembering to act ethical and in a manner that will meet the organizational goals. What are the steps in the planning process? Which step is the most crucial? Why

User Account

All Pages