Which of the following is correct about marginal and average products? A) When the average product is increasing, the marginal product must b decreasing. B) When the marginal product is increasing, the average product must b increasing. C) When the marginal product exceeds the average product, the average product must be increasing. D) When the marginal product is decreasing, the average product must decreasing.
Which of the following is correct about marginal and average products? A) When the average product is increasing, the marginal product must b decreasing. B) When the marginal product is increasing, the average product must b increasing. C) When the marginal product exceeds the average product, the average product must be increasing. D) When the marginal product is decreasing, the average product must decreasing.
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 5P
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