marginal product equals 0 when: a. average product equals 0 b. total product reaches its maximum...
marginal product equals 0 when:
a. average product equals 0
b. total product reaches its maximum value
c. total product equals average product
d. average product reached its minimum value
Homework Answers
b. total product reaches its maximum value
(When total product is maximum, MP equals zero. After that MP becomes negative and TP starts declining.)
Add Answer to:
marginal product equals 0 when:
a. average product equals 0
b. total product reaches its maximum...
When the value of the marginal product reaches zero, then that point is also the place...
When the value of the marginal product reaches zero, then that point is also the place where O the total product curve is increasing the fastest. O the total product curve is at its minimum. O the total product curve is decreasing. the total product curve reaches its maximum point.
The inflection point of the total product curve is where: a. the value of the marginal...
The inflection point of the total product curve is where: a. the value of the marginal product is negative. b. the average product equals marginal product. c. the marginal product reaches its maximum or the total product will start to increase at a decreasing rate. d. the marginal rate of technical substitution is equal to one.
In the table at right, how many workers are employed when marginal product reaches its maximum?...
In the table at right, how many workers are employed when marginal product reaches its maximum? Input of Labor (number Total Product (number of workers in weeks) of tablets produced OA 1 Ов.з Ос. 4 30 68 110 140 135
Total product divided by the number of units of variable input employed equals: a. average product....
Total product divided by the number of units of variable input employed equals: a. average product. b. marginal revenue product. c. returns to scale. d. marginal product.
15. When marginal cost is less than average total cost, a. marginal cost must be falling....
15. When marginal cost is less than average total cost, a. marginal cost must be falling. b. average variable cost must be falling. c. average total cost is falling. d. average total cost is rising. 16. Which of the following is not a characteristic of a competitive market? a. Buyers and sellers are price takers. b. Each firm sells a virtually identical product. c. Entry is limited d. Each firm chooses an output level that maximizes profits. 17. If a...
QUESTION 3 When average total cost is at its minimum: a. marginal cost is equal to...
QUESTION 3 When average total cost is at its minimum: a. marginal cost is equal to average total cost b. average variable cost plus average fixed cost is declining with increases in output c. marginal cost is equal to average variable cost d. average total cost is equal to average variable cost e. average variable cost is declining with increases in output
1)The marginal product of labor is equal to the A. total product divided by the total...
1)The marginal product of labor is equal to the A. total product divided by the total number of workers hired. B. increase in the total product that results from hiring one more worker. C. slope of the marginal product of labor curve. D. None of the above answers are correct. 2) The marginal product of labor is the increase in total product from a A. one dollar increase in the wage rate, while holding the price of capital constant. B....
A firm attempting to expand output in the short-run faces the total product of labor schedule:...
A firm attempting to expand output in the short-run faces the total product of labor schedule: TPL = 24 L^2 - L^3 The firm's total product is maximum at L= . The firm's total product curve is a concave up function at the interval [ ). (Note: Please write the largest interval where the total product curve is a concave up function. Please use a comma to separate two numbers, but please do not use any space. ) The firm's marginal...
If average cost is decreasing, A. marginal cost exceeds average cost. B. marginal cost equals average...
If average cost is decreasing, A. marginal cost exceeds average cost. B. marginal cost equals average cost. C. marginal cost is less than average cost. D. Not enough information.
As more and more of the _____ input is used, the total product curve increases quickly...
As more and more of the _____ input is used, the total product curve increases quickly at first because _____ product increases and then more slowly because _____. a. fixed; average; average product decreases b. variable; average; average product reaches a maximum c. variable; marginal; marginal product diminishes d. fixed; marginal; marginal product reaches a maximum
When the value of the marginal product reaches zero, then that point is also the place where O the total product curve is increasing the fastest. O the total product curve is at its minimum. O the total product curve is decreasing. the total product curve reaches its maximum point.
In the table at right, how many workers are employed when marginal product reaches its maximum? Input of Labor (number Total Product (number of workers in weeks) of tablets produced OA 1 Ов.з Ос. 4 30 68 110 140 135
15. When marginal cost is less than average total cost, a. marginal cost must be falling. b. average variable cost must be falling. c. average total cost is falling. d. average total cost is rising. 16. Which of the following is not a characteristic of a competitive market? a. Buyers and sellers are price takers. b. Each firm sells a virtually identical product. c. Entry is limited d. Each firm chooses an output level that maximizes profits. 17. If a...
QUESTION 3 When average total cost is at its minimum: a. marginal cost is equal to average total cost b. average variable cost plus average fixed cost is declining with increases in output c. marginal cost is equal to average variable cost d. average total cost is equal to average variable cost e. average variable cost is declining with increases in output
Most questions answered within 3 hours.
-
Mrs. Small had the following items of financial support this
year.
Social Security benefits $13,670
Pension...
asked 5 minutes ago -
Suppose that the necessary labor time to produce a unit of labor
power for one day...
asked 11 minutes ago -
bond X and bond Y. Bond X has a face value of $1,000 and 10
years...
asked 17 minutes ago -
**IN C++**
In this exercise, you will complete the "Glass" class. A glass
has the following...
asked 18 minutes ago -
In
a period of rising prices, which cost flow assumption would produce
the highest net income?...
asked 33 minutes ago -
Question 1 It has been estimated that 1.0 g of seawater contains
4.0 pg of Au....
asked 37 minutes ago -
Sal Sur owned a tract of farmland which he sold to Quick Buyer
with a quitclaim...
asked 51 minutes ago -
Slea Force Management Case Study
Fondren Publishing, Inc., based in Paris, France, is one of the...
asked 50 minutes ago -
A quantity of 2.0*10^2 ml of. 0.502 M HCL is mixed with
2.00*10^2 ml of 0.251...
asked 1 hour ago -
Need 3 slides for a PowerPoint presentation on the subject of a
VRIO for a coffee...
asked 1 hour ago -
Take 2 (or is it 3) on this question. Box a (ma = 2kg) is on...
asked 1 hour ago -
Suppose you are the manufacturing engineer in a cell to produce
flywheels for an automotive application....
asked 1 hour ago