If the marginal productivity of labor is constant for all levels of output, then the average productivity of labor
A) is constant.
B) equals the marginal productivity of labor.
C) Both A and B above.
D) Either A or B above but not both.
C
Economics
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The U.S. dollar exchange rate describes the
a. the deficit/surplus situation in the balance of payments. b. the price of a foreign currency in terms of dollars. c. the deficit/surplus situation in the merchandise trade balance. d. future changes in foreign balance of payments. e. none of the above.
Economics
Which of the following is NOT an underlying characteristic of a smart group?
a. Aggregation b. Diversity of opinion c. Interdependence d. Decentralization
Economics