Managerial Economics Flashcards
1
Q
In relation to the slope of TPvL where is MPvL maximum?
A
MPvL is maximum where the slope of TPvL is the steepest.
2
Q
Where is APvL the greatest?
A
Where APvL = MPvL
3
Q
Where is TPvL the greatest?
A
Where MPvL = 0
