AP is increasing, is AP above (greater), below (less) or equal to MP? ________ chose one AP is decreasing, is AP above, less or equal to MP? _________ choose one AP is maximum, Is AP above, less of equal to MP? _____________ choose one
AP is increasing, is AP above (greater), below (less) or equal to MP? ________ chose one AP is decreasing, is AP above, less or equal to MP? _________ choose one AP is maximum, Is AP above, less of equal to MP? _____________ choose one
Chapter22: Supply: The Costs Of Doing Business
Section: Chapter Questions
Problem 7E
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Question
- State the relationship between average product (AP)and marginal profit (MP) when
- AP is increasing, is AP above (greater), below (less) or equal to MP? ________ chose one
- AP is decreasing, is AP above, less or equal to MP? _________ choose one
- AP is maximum, Is AP above, less of equal to MP? _____________ choose one
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