Question 1

Marginal product

Accepted Answer

A) is always negative. 
B) equals the slope of the total product curve. 
C) is always zero. 
D) lies between zero and one. 
E) equals average product minus total product. 
A) is always negative. 
B) equals the slope of the total product curve. 
C) is always zero. 
D) lies between zero and one. 
E) equals average product minus total product.

Question 2

The marginal cost curve slopes upward due to

Accepted Answer

A) diminishing marginal utility. 
B) diminishing marginal returns. 
C) technological inefficiency. 
D) economic inefficiency. 
E) none of the above 
A) diminishing marginal utility. 
B) diminishing marginal returns. 
C) technological inefficiency. 
D) economic inefficiency. 
E) none of the above

Marginal product

The marginal cost curve slopes upward due to

What Is Economics

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Possibilities, Preferences, and Choices

Organizing Production

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Externalities

Public Goods and Common Resources

Markets for Factors of Production

Filters

Exam 11: Output and Costs

Marginal product

The marginal cost curve slopes upward due to

What Is Economics

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Possibilities, Preferences, and Choices

Organizing Production

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Externalities

Public Goods and Common Resources

Markets for Factors of Production

Filters