Figure 11-2
-Refer to Figure 11-2.Short run output is maximized at
A)L1.
B)L2.
C)L3.
D)insufficient information to determine

Name: Figure 11-2 -Refer to Figure 11-2.Short run output is maximized at A)L1. B)L2. C)L3. D)insufficient information to determine
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Question

Figure 11-2 
-Refer to Figure 11-2.Short run output is maximized at
A)L1. 
B)L2. 
C)L3. 
D)insufficient information to determine

Quizplus · Accepted Answer

In the short run, output is maximized at the point where the marginal product of labor is zero, which typically occurs at the highest level of labor input, L3, assuming diminishing returns.

Figure 11-2 -Refer to Figure 11-2.Short Run Output Is Maximized at