1.)If in the short run a firm\'s total product is increasing,then its: A.margina
ID: 1252092 • Letter: 1
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1.)If in the short run a firm's total product is increasing,then its: A.marginal product must also be increasing. B.marginal product must be decreasing. C.marginal product cound be either increasing ordereasing. D.average product mus also be increasing. 2.)The law of diminishing returns describes the: A.relationship between total costs and total revenues. B.profit-maximizing position of a firm. C.relationship between resource inputs and product outputs inthe short run. D.relationship between resource inputs and product outputs inthe long run. 3.)The law of diminishing returns results in: A.an eventually rising marginal product curve. B.a total product curve that evetually increases at adecreasing rate. C.an eventually falling marginal cost curve. D.a total product curve that rises indefinitely. 1.)If in the short run a firm's total product is increasing,then its: A.marginal product must also be increasing. B.marginal product must be decreasing. C.marginal product cound be either increasing ordereasing. D.average product mus also be increasing. 2.)The law of diminishing returns describes the: A.relationship between total costs and total revenues. B.profit-maximizing position of a firm. C.relationship between resource inputs and product outputs inthe short run. D.relationship between resource inputs and product outputs inthe long run. 3.)The law of diminishing returns results in: A.an eventually rising marginal product curve. B.a total product curve that evetually increases at adecreasing rate. C.an eventually falling marginal cost curve. D.a total product curve that rises indefinitely.Explanation / Answer
1.)If in the short run a firm's total product is increasing,then its: A.marginal product must also be increasing. B.marginal product must be decreasing. C.marginal product cound be eitherincreasing or dereasing-could just mean more inputreally D.average product mus also be increasing. 2.)The law of diminishing returns describes the: A.relationship between total costs and total revenues. B.profit-maximizing position of a firm. C.relationship between resource inputs andproduct outputs in the short run- more more input may decrease themarginal output or being less productive at some point. In the longrun, it will even out D.relationship between resource inputs and product outputs inthe long run. 3.)The law of diminishing returns results in: A.an eventually rising marginal product curve. B.a total product curve that evetuallyincreases at a decreasing rate-output may increase but not as theprevious amount of input C.an eventually falling marginal cost curve. D.a total product curve that rises indefinitely.Related Questions
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