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 demonstrate that,in the short run,all inputs are variable.
C)They relate the prices of inputs (factors of production)to the prices of products.
D)They relate the price of output to the quantity supplied.
E)They express relationships between physical inputs and physical outputs.

Question

Quizplus · Accepted Answer

Average, marginal, and total product curves relate to the physical inputs and outputs of a production process. They demonstrate how the quantity of input affects the quantity of output produced. This information can be used to optimize production processes and allocate resources efficiently.

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