Once Production Has Reached the Maximum Average Product of Labor,if

question 95

Multiple Choice

Once production has reached the maximum average product of labor,if production increases then

• A) average fixed cost rises.
• B) total costs decrease.
• C) total product decreases.
• D) decreasing marginal returns occur.
• E) the plant size must be increased.

Distinguish between direct, indirect, and neither direct nor indirect costs.

Categorize costs as prime cost, conversion cost, or both.

Identify types of costs associated with manufacturing and non-manufacturing environments.

Understand and calculate total manufacturing costs incurred.

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