When Labour Inputs Are Finely Divisible,the Average Product of Labour

question 49

Multiple Choice

When labour inputs are finely divisible,the average product of labour curve is ______ sloping at L if the marginal product is ______ the average product.

• A) Downward; above
• B) Upward; above
• C) Upward; below
• D) Vertical; equal to

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Definitions:

Exponentially Distributed

A probability distribution characterized by its constant rate of decay or growth, often used in the study of time until some specific event.

Exponentially Distributed

characterizes a continuous probability distribution often used to model time between events in a Poisson process.

Random Variable

A random variable represents a quantity whose values are the numerical results of a random event.

Exponential Distribution

A statistical distribution that characterizes the interval between occurrences in a scenario where events happen constantly and independently, maintaining a uniform average frequency.