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    Exam 5: Production and Cost Analysis in the Short Run
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    Which of the Following Is True of the Typical Relationship
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Which of the Following Is True of the Typical Relationship

Question 3

Question 3

Multiple Choice

Which of the following is true of the typical relationship between marginal product (MP) and average product (AP) ?


A) If MP is greater than AP, then AP is falling.
B) The AP curve intersects the MP curve at minimum MP.
C) The MP curve intersects the AP curve at maximum AP.
D) If MP is less than AP, then AP is increasing.

Correct Answer:

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