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Author Question: Refer to Figure 6.1. Which of the following statements is false? A) At point E the marginal ... (Read 57 times)

Kikoku

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on: Jul 1, 2018
Refer to Figure 6.1. Which of the following statements is false?
 
  A) At point E the marginal product of labor is decreasing.
  B) At point E the marginal product of labor is negative.
  C) At point E the average product of labor is decreasing.
  D) At point E the average product of labor is negative.
  E) At point E the marginal product of labor is less than the average product of labor.

Question 2

Which of the following questions is addressed when hiring capital, but not addressed when hiring labor?
 
  A) How much are future profits worth today?
  B) How much are today's profits worth in the future?
  C) How much are the future's profits worth in the future?
  D) How much are today's profits worth today?
  E) All questions present when capital is purchased are present when labor is purchased.


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mceravolo

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

A


Kikoku

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

tkempin

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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