Which of the following is correct about marginal and average products?
A) When the marginal product is increasing, the average product must be increasing.
B) When the marginal product exceeds the average product, the average product must be increasing.
C) When the average product is increasing, the marginal product must be decreasing.
D) When the marginal product is decreasing, the average product must be decreasing.
E) When the marginal product is increasing, the average product must be decreasing.
B
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Increased inflation _____ the value of depreciating capital assets
a. raises b. erodes c. does not affect d. creates uncertainty regarding
As a price searcher, a monopoly firm
A) must only determine the price it charges. B) must determine its optimal price-output combination. C) must determine its output level and then accept the market price for its product. D) must determine the prices it pays for its inputs and accept the market price for its output.
What has income per person done during the past 200 years?
What will be an ideal response?
Which of the following statements is TRUE?
A. saving = personal income - consumption B. investment = disposable income + consumption C. saving = disposable income - consumption D. saving = personal income + consumption