When the Marginal Product Curve Is Above the Average Product

question 279

Multiple Choice

When the marginal product curve is above the average product curve, ________ as output increases.

• A) average product must decrease
• B) average product must increase
• C) marginal product must decrease
• D) marginal product must increase

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Definitions:

Gender

Social and cultural distinctions and roles associated with being male, female, or a different gender, going beyond mere biological or physiological differences.

Prosumption Theory

A concept in consumer studies that blurs the distinction between production and consumption, indicating that consumers increasingly participate in the production of the goods or services they consume.

Production

pertains to the processes and methods involved in the creation of goods and services.

Consumption

The use of goods and services by households or individuals, viewed as an economic activity and a component of economic systems.