Multiple Choice
Which of the following statement is correct?
A) When Marginal Product is greater than Average Product, Average Product is increasing.
B) When Marginal Product is greater than Average Product, Average Product is decreasing.
C) When Marginal Product is greater than Average Product, Average Product is equal to Total Product.
D) When Marginal Product is greater than Average Product, Total Product is increasing at a decreasing rate.
Correct Answer:
Verified
Correct Answer:
Verified
Q91: Marginal product is<br>A) the change in total
Q92: If marginal product is negative, then<br>A) total
Q93: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Using the above
Q94: When marginal product is rising<br>A) total product
Q95: The amount of calendar time associated with
Q97: In economics, a fixed cost is a
Q98: When long-run average costs decline as output
Q99: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q100: The long run is defined as the
Q101: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the