When the average product of labor is greater than the marginal product of labor
A) the marginal product of labor must be increasing as labor increases.
B) there must be increasing marginal returns.
C) the average product of labor is decreasing as labor increases.
D) None of the above answers is correct
C
Economics
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Suppose that the dollar real exchange rate falls by 10% against the euro, 20% against the pound, and 25% against the yen. If the United States trades equally with each country, what is the percentage decline in the real effective exchange rate?
a. 22.5% b. 18.3% c. 15.1% d. 20.3%
Economics
Refer to the figure above. What is the absolute value of the arc elasticity of demand when the price decreases from $5 to $2?
A) 0.64 B) 1.25 C) 1.75 D) 2
Economics