Consider comparing the relationship between marginal and average product. When average product neither increases nor decreases in labor because we are at a point at which $\mathrm { AP } _ { \mathrm { L } }$ is at a maximum, then marginal product is equal to average product.

Question

Quizplus · Accepted Answer

At the point where average product is at a maximum, the slope (or derivative) of the total product curve (which gives us marginal product) equals the slope (or derivative) of the average product curve. Therefore, marginal product is equal to average product at this point. This is because the maximum point of average product corresponds to the point at which marginal product is equal to average product. This is a fundamental principle in the theory of production.

Consider Comparing the Relationship Between Marginal and Average Product APL\mathrm { AP } _ { \mathrm { L } }APL​

Consider Comparing the Relationship Between Marginal and Average Product $\mathrm { AP } _ { \mathrm { L } }$