When the marginal product equals the average product, the
A) average product curve is downward sloping.
B) average product curve is upward sloping.
C) marginal product is at its maximum.
D) average product is at its maximum.
D
You might also like to view...
The consumer price index for the current year measures the cost of a standard basket in the ________ year relative to the cost of the same basket in the ________ year.
A. current; current B. base; current C. base; index D. current; base
Suppose that the price of lettuce used to produce tacos increases. This change means that the equilibrium price of a taco ________ and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases E) does not change; decreases
The downward slope of the demand curve is attributed to:
a. the inverse relationship between price and quantity demanded. b. the direct relationship between income and quantity demanded. c. the direct relationship between price and quantity demanded. d. the inverse relationship between income and quantity demanded. e. the direct relationship between consumer preferences and quantity demanded.
All else equal, what is likely to happen to the unemployment rate during a recession?
a. It increases as real GDP increases. b. It decreases as real GDP remains the same. c. It increases as real GDP decreases. d. It decreases as cyclical unemployment decreases. e. It decreases as real GDP decreases.