Suppose a Single-Input Production Function Has Initially Increasing but Eventually

question 18

Multiple Choice

Suppose a single-input production function has initially increasing but eventually decreasing marginal product.In this case, the first order condition for the profit maximization problem

• A)is necessary for identifying the profit maximizing production plan.
• B)is sufficient for identifying the profit maximizing production plan.
• C)is both necessary and sufficient for identifying the profit maximizing production plan.
• D)is neither necessary nor sufficient for identifying the profit maximizing production plan.