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

Question:

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

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Managerial economics

ISBN: 978-1118041581

7th edition

Authors: william f. samuelson stephen g. marks

Question Posted: