Figure 4.1 Total Product Curves

-Refer to Figure 4.1. The shift in the total product curve represents an increase in the firm's
A) costs of production
B) productivity
C) diseconomies of scale
D) market share

Question

Figure 4.1 Total Product Curves
 
-Refer to Figure 4.1. The shift in the total product curve represents an increase in the firm's
A) costs of production 
B) productivity 
C) diseconomies of scale 
D) market share

Quizplus · Accepted Answer

A shift in the total product curve typically indicates a change in productivity. If the curve shifts upwards or to the right, it suggests an increase in productivity, meaning the firm can produce more output from the same amount of inputs.