With a Technological Change That Increases Productivity, the Average Product

question 431

Multiple Choice

With a technological change that increases productivity, the average product curve ________ and the marginal product curve ________.

• A) shifts upward; is unchanged
• B) is unchanged; is unchanged
• C) is unchanged; shifts upward
• D) shifts upward; shifts upward

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Definitions:

Point Estimate

A single value that serves as the best guess or best estimate of a population parameter based on sample data.

Point Estimate

A single value given as the best guess or estimate representing a population parameter, based on sample data.

Proportion

A part, share, or number considered in comparative relation to a whole; a statistical measure often used to describe a characteristic of a sample.

Variability

The extent to which data points in a statistical distribution or dataset differ from the average or mean value.