4. Are the following statements true or false? If marginal product is greater th

Question

4. Are the following statements true or false? If marginal product is greater than average product, average product is falling. Marginal cos In the short run, as output increases, the difference between average total cost and average variable b. t is less than average variable cost when average variable cost is falling. cost increases d. In the short run where total variable cost is increasing at a decreasing rate, marginal cost is positive and decreasing. If the marginal cost curve is below the average variable cost curve, then marginal cost must be e. decreasing. If the average total cost curve is above the marginal cost curve, then total costs must be increasing. If marginal cost is between average variable cost and average total cost, then both average variable g. cost and average total cost are increasing. average variable cost curve. output rises. h. The marginal cost curve intersects the average variable cost curve at the maximum value of the In the short run when the marginal product of labor rises, the marginal cost of an additional unit of I. _Average fixed cost equals total fixed cost divided by total output J. Fill in the following table reflecting costs for a typical firm ATC

Explanation / Answer

4. A. This is False.

4.B. This is True.

4.C. This is False.

4.D.This is True.

4.E. This is True.

4.F. Thi is True.

4.G. This is False.

4.H. This is False.

4.I. This is False.

4.J.This is True.

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