Which of the Following Statements Is True

question 76

Multiple Choice

Which of the following statements is true?

• A)The average product of labour is at its maximum when the average product of labour equals the marginal product of labour.
• B)The average product of labour is at its minimum when the average product of labour equals the marginal product of labour.
• C)The average product of labour tells us how much output changes as the quantity of workers hired changes.
• D)Whenever the marginal product of labour is greater than the average product of labour the average product of labour must be decreasing.

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Definitions:

Service Firms

Businesses that primarily offer intangible products, such as services or expertise, to their customers.

Operations Management

The field of management focused on designing, controlling, and improving the production process and redesigning business operations in the production of goods or services.

Quantitative Methods

Analytical techniques that leverage statistics, mathematical modeling, and research to solve problems and make decisions.

Manufacturing Processes

These are the methods and techniques used for converting raw materials into finished goods.