Consider a Firm in the Short Run

question 101

Multiple Choice

Consider a firm in the short run.If total product is at its maximum,then

• A)average product must equal marginal product.
• B)average product must be rising and must lie above marginal product.
• C)marginal product must be greater than zero and must be falling.
• D)marginal product must be falling and be equal to zero.
• E)average product must be falling and be equal to zero.

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Definitions:

Nitrates

Salts or esters of nitric acid, containing the NO3- ion, commonly used in fertilizers.

Nitrogenous Compounds

Organic or inorganic compounds containing nitrogen in various chemical forms, important in many biological processes and industrial applications.

Organic Nitrogen

Nitrogen that is found in organic compounds, including proteins, nucleic acids, and other naturally occurring organic molecules.

Empowerment

Authorization and enablement; the awakening, liberation, and inspiration of people. Principles of empowerment include trust in people, investment in people, recognition of accomplishment, and decentralized decision making. Empowerment is closely associated with the concepts of democratic and participative leadership.