The total product curve:
A) shows the relation between the output and the quantity of a variable input for varying levels of the fixed input.
B) will become flatter as the output increases if there are diminishing returns to the variable input.
C) will be downward sloping if there are diminishing returns to the variable input.
D) will become horizontal when the marginal product of the variable input is constant.
Correct Answer:
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Q1: In economics,the short run is defined as:
A)less
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Q3: Use the following to answer questions :
Figure:
Q4: Use the following to answer questions :
Figure:
Q5: The idea of diminishing returns to an
Q11: A fixed input is one:
A)that only exists
Q12: In the long run:
A)all inputs are fixed.
B)inputs
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Q17: An input whose quantity can be changed
Q18: In the short run:
A)all inputs are fixed.
B)all
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