When both average and total product are greater than zero, and marginal product equals average product, then total product:
A) Is at a maximum.
B) Is positive and rising.
C) Is falling.
D) Is negative but rising.
Correct Answer:
Verified
Q1: Which of the following statements describes the
Q2: Which of the following statements describes increasing
Q3: Economies of scale exist if:
A)As the amount
Q4: The total product curve may initially show
Q5: If labour is the only variable resource
Q7: Costs incurred only when production occurs are
Q8: Which of the following is irrelevant for
Q9: Diminishing marginal returns are most compatible with:
A)Economies
Q10: In economic theory the costs of a
Q11: The short run as the term is
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