Choose the Correct Statement

question 99

Multiple Choice

Choose the correct statement.

• A)When marginal product of labour is greater than average product of labour and marginal product is either increasing or decreasing average product of labour is increasing.
• B)When total product is increasing average product of labour and marginal product of labour are both increasing.
• C)When marginal product of labour is greater than or equal to average product of labour,average product of labour is increasing.
• D)When marginal product of labour is increasing,average product of labour is greater than marginal product of labour.
• E)When total product is increasing,average product of labour is decreasing and marginal product of labour is increasing.

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Definitions:

Allocating

The process of assigning costs or resources among various projects, departments, or segments.

Predetermined

Established in advance or determined beforehand.

Lump-Sum Amounts

Single payments made for a group of items or services rather than individual transactions.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent and salaries.