1. If it takes a week to obtain a vendor's license and buy a pushcart, then a week would be the long run for the hot dog stand industry.
2. In general, marginal product equals average product at:
A) maximum marginal product.
B) minimum marginal product.
C) minimum average product.
D) maximum average product.
These multiple choice questions belong to Economics. The 1st question is about statement about a week being the long run and the 2nd question is about marginal product being equal to average product.
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