Multiple Choice
If marginal product is greater than average product:
A) total product must be increasing.
B) marginal product must be decreasing.
C) marginal product must be increasing.
D) average product may be increasing or decreasing.
Correct Answer:
Verified
Correct Answer:
Verified
Q20: Suppose every molecule of salt requires
Q21: Technically inefficient points are points contained in
Q22: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8502/.jpg" alt=" -Average product reaches
Q23: For a simple graph of a production
Q24: When the marginal product curve lies above
Q26: Decreasing returns to scale and diminishing marginal
Q27: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8502/.jpg" alt=" -Marginal product reaches
Q28: Suppose a production function has only one
Q29: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8502/.jpg" alt=" -*Diminishing marginal returns
Q30: For the production function <span