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Author Question: Explain what an entrepreneur is and its function. What will be an ideal ... (Read 81 times)

HCHenry

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on: Jun 29, 2018
Explain what an entrepreneur is and its function.
 
  What will be an ideal response?

Question 2

What is the relationship between marginal product and average product?
 
  What will be an ideal response?


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quynhmickitran

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Reply #1 on: Jun 29, 2018
Answer to Question 1

An entrepreneur is a person who organizes, manages, and assumes the risks of a firm, taking a new idea or a new product and turning it into a successful business.

Answer to Question 2

When marginal product is greater than average product, average product rises. When marginal product is lower than average product, average product falls. When marginal product is equal to average product, average product is at its maximum.


HCHenry

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Reply 2 on: Jun 29, 2018
Excellent

tkempin

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

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