In the Short Run, If Marginal Product Is at Its

question 326

Multiple Choice

In the short run, if marginal product is at its maximum, then

• A)average cost is at its minimum.
• B)average variable cost is at its minimum.
• C)marginal cost is at its minimum.
• D)total cost is at its maximum.

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Definitions:

Equally Happy

The notion that people can achieve a similar level of happiness regardless of their varying circumstances or personal characteristics.

Fairly Unhappy

A moderate level of dissatisfaction or discomfort with one's current circumstances or state of being.

Gardner's Theory

A theory of multiple intelligences proposed by Howard Gardner, suggesting people have different kinds of intelligences, such as linguistic, logical-mathematical, and spatial.

Spearman's Theory

A theory of intelligence proposing that general intelligence (g factor) underlies all cognitive abilities, thus explaining overall performance on mental ability tests.