Figure 7-1 Shows the Total Product Curve for Different Levels

question 88

Multiple Choice

Figure 7-1 shows the total product curve for different levels of a variable input,labor.
Figure 7-1
-Refer to Figure 7-1.To the left of point B:

• A)marginal product is rising but average product is falling.
• B)marginal product is rising and is above the average product.
• C)marginal product is falling but average product is rising.
• D)total product is increasing at a decreasing rate.

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The price at which the quantity of goods supplied equals the quantity of goods demanded in a market.

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