Which of the following statements accurately describe the relationship between average product and marginal product:
a. marginal product intersects average product at its minimum point
b. Average product Rises when marginal product is above it and falls when marginal
product is below it
c. which product in the marginal product are always parallel to each other
d. average product is always rising when marginal product is falling and vice versa
a. marginal product intersects average product at its minimum point
b. Average product Rises when marginal product is above it and falls when marginal
product is below it
c. which product in the marginal product are always parallel to each other
d. average product is always rising when marginal product is falling and vice versa
Answers & Comments
Explanation:
What is the average product of an input? ... Explain the relationship between the marginal products and the total product of an input. ... 3) When TP curve reaches its maximum and becomes constant at point B, MP
We are now going to focus on the what is behind the supply curve. ... When these workers are added, the marginal product increases. ... As long as the marginal product of a worker is greater than the average product, ...