Which One of the Following Statements Is Correct

question 142

Multiple Choice

Which one of the following statements is correct?

• A)When marginal product is increasing,average product is decreasing.
• B)When average product is less than zero,marginal product is positive.
• C)When marginal product is increasing and greater than average product,average product is increasing.
• D)When marginal product is zero,total product is at its minimum.
• E)When average product exceeds marginal product,marginal product is increasing.

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Definitions:

Price Level

A measure of the average prices of goods and services in the economy, often compared over time to assess inflation or deflation.

Long-Run Aggregate Supply Curve

A vertical line representing the real output of goods and services that an economy can produce when it is fully employed, regardless of the level of demand.

Minimum Wage

The lowest legal remuneration that employers are allowed to pay their workers, aimed at protecting workers from unduly low pay.

Open a Business

The process of establishing a new commercial enterprise or venture to sell goods or services.