The average product of labor exceeds the marginal product of labor

A) when the average product of labor is falling.
B) when the average product of labor is rising.
C) when the marginal product of labor is at its maximum.
D) when the average product of labor is at its maximum.

A

Economics

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The opportunity cost of an activity

a. depends on the individual's subjective values and opinions b. is the same for everyone c. must be calculated and known before undertaking that activity d. is irrelevant to decision making e. is not influenced by time costs

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A higher price for a good will cause the budget constraint to rotate toward the origin

a. True b. False Indicate whether the statement is true or false

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