When the marginal physical product is falling
A) marginal cost is rising.
B) average fixed costs are rising.
C) total costs are falling.
D) average variable costs are falling.
Answer: A
Economics
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Macroeconomic models are
A) never wrong. B) accurate descriptions of the economy. C) simple abstractions of reality. D) consistent with all economic data.
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The sum of the individual demands of all consumers in the market is called
a. individual demand b. market demand c. inferior good d. market supply e. quantity demanded
Economics