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:

Total Fertility Rate

The average number of children a woman would bear during her lifetime, given current birth rates.

Infant Mortality Rate

The number of deaths of infants under one year of age per 1,000 live births in a given year.

Replacement-Level Fertility

The average number of children that must be born to women of reproductive age in a population to replace the number of people dying, ensuring population stability.

Demography

The statistical study of populations, analyzing structure, distribution, and trends through births, deaths, migrations, and aging.