Figure 11-1
Fancy Footwear manufactures shoes.Figure 11-1 shows Fancy Footwear's marginal product of labor and average product of labor curves in the short run.
-Refer to Figure 11-1.Which of the following statements correctly describes the curves in the figure?
A) The marginal product of labor curve is represented by curve A and the average product of labor curve is represented by curve B.
B) The marginal product of labor curve is represented by curve B and the average product of labor curve is represented by curve A.
C) Curve A could represent either the average product curve or the marginal product and curve.Curve B represents the total product curve.
D) Curve B could represent either the average product curve or the marginal product curve.Curve A represents the total product curve.
Correct Answer:
Verified
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A)The