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:

Attribution

The process by which individuals explain the causes of behavior and events.

Familiarity Effect

A psychological phenomenon where people tend to develop a preference for things merely because they are familiar with them.

Actual Experiences

Real-life occurrences and events that an individual personally goes through, as opposed to hypothetical or simulated situations.

Positive Toward

Exhibiting a favorable or optimistic attitude or feeling towards something or someone.