When the marginal product curve lies above the average product curve
A) The average product curve must be falling
B) The total product curve must be falling
C) The average product curve must be rising
D) The marginal product curve must be rising
Correct Answer:
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Q12: If a chef and her equipment transform
Q13: Diminishing returns begin to occur
A)When the slope
Q14: In a typical production function the relevant
Q16: In the long run
A)All inputs are fixed
B)Only
Q17: A fixed input is an input that
A)can
Q18: The average product of a variable input
A)Decreases
Q19: Geometrically, the marginal product
A)Is the slope of
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