In a short-run production function before diminishing returns set in, both MPL and APL will have
A) positive slopes and MPL will lie above APL.
B) positive slopes and APL will lie above MPL.
C) negative slopes and MPL will lie above APL.
D) negative slopes and APL will lie above MPL.
Correct Answer:
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Q2: If equal amounts of a variable input
Q3: In a typical production function, the relevant
Q4: The nineteenth-century British economist Thomas Malthus argued
Q5: The average product of a variable input
A)decreases
Q6: The short run is defined as that
Q8: When Thomas Malthus argued that the prospects
Q9: If capital and labor are perfect substitutes
Q10: Geometrically, the marginal product
A)is the slope of
Q11: Geometrically, the average product
A)is the slope of
Q12: Which is true?
A)Production functions consider only the
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