What information is provided by average,marginal,and total product curves?
A)They demonstrate that each of these measures of output increase as more inputs are applied.
B)They relate the price of output to the quantity supplied.
C)They demonstrate that,in the short run,all inputs are variable.
D)They express relationships between physical inputs and physical outputs.
E)They relate the prices of inputs (factors of production)to the prices of products.

Question

Quizplus · Accepted Answer

The average, marginal, and total product curves provide information about the relationship between physical inputs (such as labor) and physical outputs (such as units of production). They show how these measures of output change as more inputs are used, and provide insight into the productivity of a particular production process. The other choices do not accurately describe the information provided by these curves.

What Information Is Provided by Average,marginal,and Total Product Curves