For a Simple Graph of a Production Function with Q

question 88

Multiple Choice

For a simple graph of a production function with Q on the y-axis and L on the x-axis, which of the following statements is true?

• A)The slope of the production function at a specific point equals the marginal product of labor whereas the average slope of the production function equals the average product of labor.
• B)The average product of labor is equal to the slope of the ray from the origin to the apex of the production function for all values of L.
• C)The slope of the production function at a specific point equals the marginal product of labor whereas the slope between the origin and a specific point on the production function equals the average product of labor.
• D)The average product of labor is never equal to the slope of the ray from the origin to the apex of the production function.

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Definitions:

Boiling Point

The temperature at which a substance transitions from the liquid phase to the gas phase under standard atmospheric pressure.

Compounds

Substances formed by chemically bonding two or more elements together in definite proportions.

Compound

A material composed of at least two elements that are chemically united in a constant proportion.

Soluble

Capable of being dissolved in a solvent, typically referring to the ability of a substance to dissolve in a particular liquid.