If marginal product is greater than average product then average product will fall.
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Q4: The difference between revenue and variable costs
Q5: A profit is made when
A) Total contribution
Q6: The level of output at which revenue
Q7: The shut-down point occurs when
A) Revenue equals
Q8: Labour productivity measures _ per employee
Q9: The extra output from employing another unit
Q11: If marginal cost is greater than average
Q12: The marginal cost curve cuts the average
Q13: Economies of scale occur when total costs
Q14: Natural monopolies occur when there are very
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