Does optimal use of an input (such as labor) mean maximizing average output (per unit of input)?

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Does optimal use of an input (such as labor) mean maximizing average output (per unit of input)? Explain.

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Managerial economics

ISBN: 978-1118041581

7th edition

Authors: william f. samuelson stephen g. marks

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Question Posted: Jan 30, 2013 01:07 AM

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Does optimal use of an input (such as labor) mean maximizing average output (per unit of input)?

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Maximizing average output is typically nonoptimal First we should emphas...View the full answer

Managerial economics

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