As long as marginal product is increasing, marginal product is:
A. equal to average output.
B. less than average product.
C. equal to total product.
D. greater than average product.
Answer: D
Economics
You might also like to view...
The above table shows data from the GDP accounts of Hypothetica. Hypothetica's GDP is ________ billion
A) $270 B) $210 C) $190 D) $160
Economics
The formula for total fixed cost is
A) TFC = TVC - TC. B) TFC = TC - TVC. C) TFC = TC/TVC. D) TFC = TC + TVC.
Economics
When the price level rises as a result of a decrease in aggregate supply, it is called cost-push inflation
a. True b. False Indicate whether the statement is true or false
Economics
When the price of ice cream falls, we would expect the quantity demanded of ice cream to rise, ceteris paribus
a. True b. False Indicate whether the statement is true or false
Economics