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Figure 11-3 Fancy Footwear Manufactures Shoes

Question 114

Multiple Choice

Figure 11-3 Figure 11-3 Fancy Footwear manufactures shoes. Figure 11-3 shows Fancy Footwear's marginal product of labor and average product of labor curves in the short run. -Refer to Figure 11-3. 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. Fancy Footwear manufactures shoes. Figure 11-3 shows Fancy Footwear's marginal product of labor and average product of labor curves in the short run.
-Refer to Figure 11-3. 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.

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