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
You might also like to view...
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.
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
National defense is an example of a _____________________.
Fill in the blank(s) with the appropriate word(s).
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.