When the marginal product is higher than the average product, the __________. Group of answer choices total product is decreasing marginal product is negative total product is at its peak average product is increasing
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Consider the relationship between average product and marginal product, and then choose the correct statement. A. When marginal product exceeds average product, average product is rising. B. When marginal product is falling, average product is falling. C. When average product exceeds marginal product, marginal product is rising. D. When average product is rising, marginal product is rising.
Jennifer S.
If a production function shows declining marginal product of an input as the quantity of the input increases, then the production function exhibits Group of answer choices diminishing profitability. increasing returns to scale. increasing marginal product. decreasing marginal product.
t (from the GRE Economics Test) Which of the following statements about average product and marginal product is correct? (A) If average product is decreasing, marginal product must be less than average product. (B) If average product is increasing, marginal product must be increasing. (C) If marginal product is decreasing, average product must be less than marginal product. (D) If marginal product is increasing, average product must be decreasing. (E) If marginal product is constant over some range, average product must be constant over that range.
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