When the marginal product curve is downward sloping, the average product curve
A) must also be downward sloping.
B) might be either upward or downward sloping.
C) must be upward sloping.
D) must be horizontal.
B
Economics
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If Shaniq is a risk averse, then
A) her cost of risk exceeds $0. B) she has diminishing marginal utility of wealth. C) she is willing to buy insurance if the cost of insurance is low enough. D) all of the above.
Economics
If both buyers and sellers expect the price of a commodity to rise in the future, it is likely that the market clearing price ________ and the equilibrium quantity ________
A) will fall, cannot be predicted B) will rise, cannot be predicted C) cannot be predicted, will fall D) cannot be predicted, will rise
Economics