When marginal product is positive but falling, total output (total product) is falling.
Correct Answer:
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Q2: The Law of Diminishing Returns occurs:
A) In
Q3: Marginal costs:
A) Equal fixed costs plus variable
Q4: Fixed costs:
A) Never change.
B) Do not change
Q5: The short run:
A) Is 1 week.
B) Is
Q6: Diseconomies of scale occur when:
A) Marginal costs
Q8: Short run marginal costs are determined mainly
Q9: The increase or decrease in total cost
Q10: The marginal cost curve:
A) Is inversely related
Q11: The marginal product curve:
A) Is inversely related
Q12: If the total product is 300 units
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