When marginal product ________ average product, average product must be ________.

A. is less than; increasing
B. is greater than; increasing
C. is greater than; decreasing
D. Any of these is possible.


Answer: B

Economics

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Which of the following shifts the AVC curve upward at Barney's Bagel Bakery?

A) an increase in the hourly wage that Barney pays his workers B) a decrease in the hourly wage that Barney pays his workers C) an increase in the fixed amount of liability insurance premiums that Barney pays for his business D) Both answers A and C are correct.

Economics

An increase in the price of Product X leads to a decrease in demand for Product Y. The price increase also increases the demand for Product Z, a related good. Discuss the relationship between these products

Economics

National defense is an example of a _____________________.

Fill in the blank(s) with the appropriate word(s).

Economics

When operating at the profit-maximizing/loss-minimizing level of output, total revenue minus total cost equals


A. $160.
B. $320.
C. zero.
D. -$320.

Economics