If Marginal Product Is Greater Than Average Product, Then

question 104

Multiple Choice

If marginal product is greater than average product, then

• A) average product must be decreasing.
• B) marginal product must be decreasing.
• C) marginal product must be increasing.
• D) marginal product could either be increasing or decreasing.

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Definitions:

Off-Price Retailing

A retail strategy offering high-quality goods at lower prices, typically by selling excess inventory or out-of-season items.

Regular Prices

The standard or usual cost at which goods are sold to consumers.

Off-Price Retailer

Retailers that sell branded or designer goods at significantly lower prices than traditional retail, often due to overstock, last season's items, or manufacturer closeouts.

Discount Store

A retail store that sells products at prices lower than the typical market value, often by buying in bulk or selling overstock items.