Author Question: Stage III of the short-run Production Function is A) the most efficient mix of inputs. B) the ... (Read 116 times)

vicotolentino · **on:** Jul 1, 2018

Stage III of the short-run Production Function is

A) the most efficient mix of inputs.
B) the least costly level of output.
C) where additional units of variable inputs will lead to less output.
D) where additional units of variable inputs will lead to more output.

Question 2

Which of the following indicates when Stage II ends and Stage III begins in the short-run production function?

A) when AP = 0
B) when MP = 0
C) when MP = AP
D) when MP starts to diminish