-Based on the Above Figure of the Costs at Barney's

question 3

Multiple Choice

-Based on the above figure of the costs at Barney's Bagel Bakery, at which of the following levels of output does the marginal product of labor equal the average product of labor?

• A) at 500 bagels
• B) at 2000 bagels
• C) at 3000 bagels
• D) None of the above because the marginal and average products of labor can never be equal.

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Definitions:

Positive Stage

In the context of philosophical and social development theories, particularly those of Auguste Comte, it refers to the final stage of societal evolution in which scientific methods and empirical data are used to understand societal issues.

Industrial Stage

A phase in the development of a society characterized by the growth of industries, mass production, and a shift from agrarian to industrial economies.

Global Village

A term that describes the world as being interconnected through technology, making distances shorter and communication instant, as envisioned by Marshall McLuhan.

Quality of Mind

The capacity to critically assess situations, empathize with others, and engage in thoughtful reflection and understanding.