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:

Normative Statement

A statement expressing a value judgment about what ought to be, rather than stating objective facts or describing what currently exists.

Grade Point Average

A numerical calculation representing the average value of the accumulated final grades earned over time, used in schools and universities.

Positive Statement

A factual statement that can be tested and validated, describing the world as it is.

General State

A term potentially referring to the overall condition of a system or entity, but is not a standard term in economics or related fields. NO.