Asked by mike

2. Suppose that the average product of labor increases as more workers are hired. Which of the following must be true?
a. Marginal product is greater than average product.
b. Marginal product is increasing.
c. Marginal product is decreasing.
d. Marginal product is less than average product.
e. The firm is experiencing increasing returns.
f. Both b and e.

Answers

Answered by mike
i meant microecon not statistics
Answered by oobleck
If I understand the definitions correctly,
I like a and b
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