The total product curve:
A) shows the relation between output and the quantity of a variable input for varying levels of the fixed input.
B) will become flatter as output increases if there are diminishing returns to the variable input.
C) will be downward-sloping if there are diminishing returns to the variable input.
D) will become horizontal when the marginal product of the variable input is constant.
Correct Answer:
Verified
Q1: In economics,the short run is defined as:
A)less
Q3: If two firms are identical in all
Q4: Use the following to answer questions:
Q8: A fixed input is one:
A) that exists
Q11: Use the following to answer questions:
Q12: The long run is a planning period:
A)
Q15: A _ is an organization that produces
Q18: In the short run:
A)all inputs are fixed.
B)all
Q19: Diminishing returns to an input occur:
A)when all
Q20: An input whose quantity CANNOT be changed
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