Which of the following is not correct?
A. Where marginal product is greater than average product, average product is rising.
B. Where total product is at a maximum, average product is also at a maximum.
C. Where marginal product is zero, total product is at a maximum.
D. Marginal product becomes negative before average product becomes negative.
Answer: B
You might also like to view...
In the last 20 years, which of the following countries has experienced positive economic growth?
A) Russia. B) Zimbabwe. C) Haiti. D) All of the above have seen their economies decline during this period.
When the Fed loaned to banks using banks' long-run assets such as mortgages as collateral, it was:
A. giving banks assets. B. providing banks with liquidity. C. loosening its regulations of bank. D. conducting standard monetary policy.
Refer to the information provided in Table 3.1 below to answer the question(s) that follow. Table 3.1Price per PizzaQuantity Demanded (Pizzas per Month)Quantity Supplied (Pizzas per Month)$31,200 600 61,000 700 9 800 80012 600 90015 4001,000Refer to Table 3.1. If the price per pizza is $6, there is an excess
A. demand of 300 pizzas. B. supply of 1,000 pizzas. C. supply of 700 pizzas. D. demand of 600 pizzas.
If a perfectly competitive firm's average total cost curve is below its demand schedule at any level of output, then the firm will earn ________ profits.
A. break-even B. negative C. zero D. positive