Assume a company is at a point in production where marginal product is above average product.Which of the following must be true?
A) Diminishing marginal product must not have set in yet.
B) Marginal product must be rising.
C) Average product must be rising.
D) All of these are true.
Correct Answer:
Verified
Q105: A bracelet making company has three employees,and
Q106: Diminishing marginal product:
A)causes the variable cost curve
Q107: A cigar factory employs 20 workers and
Q108: Average product measures:
A) the quantity of output
Q109: When marginal product _ average product,average product
Q111: Suppose a sandwich shop currently employs four
Q112: In general,the cost of an input:
A) decreases
Q113: The total cost curve:
A) is the sum
Q114: The fixed cost curve:
A) is steep when
Q139: Average total cost:
A)decreases when output levels are
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