Consider the Following Statements When Answering This Question: I

question 85

Multiple Choice

Consider the following statements when answering this question: I. Whenever the marginal product of labor curve is a downward sloping curve, the average product of labor curve is also a downward sloping curve that lies above the marginal product of labor curve.
II) If a firm uses only labor to produce, and the production function is given by a straight line, then the marginal product of labor always equals the average product of labor as labor employment expands.

• A) I is true, and II is false.
• B) I is false, and II is true.
• C) Both I and II are true.
• D) Both I and II are false.

---

Definitions:

Greatest Good

A concept often associated with utilitarianism, suggesting that actions are right if they benefit the majority, promoting the most happiness or least harm.

Laws

The system of rules that are created and enforced through social or governmental institutions to regulate behavior and maintain order in society.

Monroe Doctrine

A principle of United States foreign policy established in 1823, asserting that any intervention by external powers in the politics of the Americas is a potentially hostile act against the US.

Colonial Empires

Extensive territories acquired and ruled by powerful nations, primarily during the 15th to the 20th centuries, often characterized by exploitation and cultural imposition on indigenous peoples.