When the marginal product of labor is equal to the average product of labor,
A.
marginal product of labor is at its maximum.
B.
marginal cost of production is at its minimum.
C.
marginal cost is equal to minimum average variable cost.
D.
average total cost is at its minimum.
E.
total product of labor is at its maximum.
Exam No： AP Micro Practice Test 4 Year：2024 Question No：38
Answer:
C
Knowledge points:
1.6 Marginal Analysis andConsumer Choice
3.1 The Production Function
3.2 Short-Run Production Costs
Solution:
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