Refer to Figure 6.1. At point C
A) the marginal product of labor is greater than the average product of labor.
B) the average product of labor is greater than the marginal product of labor.
C) the marginal product of labor and the average product of labor are equal.
D) the marginal product of labor and the average product of labor are both increasing.
E) Both B and D are correct.
Question 2
In the game in Scenario 13.5,
A) there is one equilibrium: for both to expand West.
B) there is one equilibrium: for both to expand South.
C) there are two equilibria: either can expand in the West, and the other expands in the South.
D) there is only a mixed strategies equilibrium.
E) all four outcomes are equilibria.
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