? Question 11 (1 point) Which statement is true regarding the total product and

Question

? Question 11 (1 point) Which statement is true regarding the total product and marginal product curves? a) The total product curve reaches its peak when marginal product is zero. b) The total product curve begins to fall when marginal product begins to fall. c) The marginal product curve is upward sloping whenever total product is rising. a The total product and marginal product curves both reach their maximum point at the Save Question 12 (1 point) /l To pursue her goal of being a business owner Mary left a job that paid $40.000 per year. At the end of her fhrst year in business, her cash revenues summed to $90.000, and her explicit costs were $50.000. Also, in order to fund her business startup. Mary cashed in a $20.000 certificate of deposit that was providing ayield of 5%. Cetens paribus' Mary's economic profit ve

Explanation / Answer

Question 11

Relationship between total product and marginal product is as follows -

1. When total product is increasing at increasing rate, marginal product also increases.

2. When total product is increasing at decreasing rate, marginal product tends to fall.

3. When total product is at its maximum, marginal product is zero.

4. Total product starts falling when marginal product becomes negative.

Thus, the correct statement is that the total product curve reaches its peak when marginal product is zero.

Hence, the correct answer is the option (a).

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