If in the Short Run a Firm's Total Product Is

question 198

Multiple Choice

If in the short run a firm's total product is increasing, then its

• A)marginal product must also be increasing.
• B)marginal product must be decreasing.
• C)marginal product could be either increasing or decreasing.
• D)average product must also be increasing.

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Definitions:

Requests for Admission

A legal process in which one party asks the other to admit the truth of specific facts or the genuineness of documents, to simplify the trial process.

Depositions

The sworn, out-of-court oral testimonies of witnesses recorded for later use in court proceedings and discovery processes.

Counterclaim

A claim made by a defendant in a civil lawsuit against the plaintiff. In effect, a counterclaiming defendant is suing the plaintiff.

Liable

Being legally responsible for something, especially in terms of being subject to legal action or obligation to provide compensation.