Consider Comparing the Relationship Between Marginal and Average Product $\mathrm { AP } _ { \mathrm { L } }$

question 54

True/False

Consider comparing the relationship between marginal and average product. When average product neither increases nor decreases in labor because we are at a point at which $\mathrm { AP } _ { \mathrm { L } }$ is at a maximum, then marginal product is equal to average product.

Understand the elements of effective strategic planning and goal setting.

Understand the key behaviors and characteristics of an entrepreneur.

Identify the stages in the innovation process and the start-up process model for small businesses.

Recognize the barriers and challenges faced by small businesses and entrepreneurs in innovation and growth.

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