The marginal product of labor is the slope of the line from the origin to the to
ID: 1118616 • Letter: T
Question
The marginal product of labor is the slope of the line from the origin to the total product curve at that level of labor usage. 1. The function which shows combinations of inputs that yield the same output is called an 1soquant curve. 2. 3. If the isoquants are straight lines, then inputs have fixed costs at all use rates 4. A firm's marginal product of labor is 4 and its marginal product of capital is 5. If the firm adds one unit of labor, but does not want its output quantity to change, the firm should use 0.8 fewer units of capital. 5. The production function q KL exhibits constant returns to scale.Explanation / Answer
1. False.
Explanation: Marginal product of labor is given by the slope of the total product curve.
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