Answered: If MPL = 2.5 when L = 400, then which…

If MPL = 2.5 when L = 400, then which of the following statements is true about APL: Select one: a. APL is at a maximum b. APL is decreasing c. APL is equal to MPL d. APL is increasing

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

(ECONOMICS)

If MP_L = 2.5 when L = 400, then which of the following statements is true about AP_L:

Select one:

a. AP_L is at a maximum

b. AP_L is decreasing

c. AP_L is equal to MPL

d. AP_L is increasing

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