At 36 Units of Labor, a Firm Finds That Both

question 167

Multiple Choice

At 36 units of labor, a firm finds that both average product of labor and marginal product of labor equal 42.We can conclude that the average product curve at 36 units of labor is:

• A) upward-sloping.
• B) downward-sloping.
• C) vertical.
• D) horizontal.

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Definitions:

Absolutism

A theory of ethics which requires that individuals defer to a set of rules to guide them in the ethical decision-making process. Whether an action is moral depends on whether it conforms to the given set of ethical rules.

Inflexible

Inflexible describes a lack or absence of flexibility; not open to change or adaptation.

Business Ethics

A field of study that examines moral principles and problems that arise in a business environment.

Situational Ethics

An ethical theory which holds that to evaluate the morality of an action, we must imagine ourselves in the position of the person facing the ethical dilemma and then, on that basis, determine whether that person’s action was ethical.