The average product is the greatest in the short run when the
A) total product is maximized.
B) marginal product is equal to zero.
C) marginal product is maximized.
D) marginal product is equal to the average product.
E) marginal product is greater than the average product.
D
You might also like to view...
For a firm to maximize total profits through price discrimination, it should
a. Firms should charge a low price to high-value consumers and a high price to low-value consumers b. Firms should charge a high price to high-value consumers and a high price to low-value consumers c. Firms should charge a low price to high-value consumers and a low price to low-value consumers d. Firms should charge a high price to high-value consumers and a low price to low-value consumers
According to purchasing-power parity, if over the course of a year the price level in the U.S. rises more than in Canada, then which of the following rises?
a. the U.S. real exchange rate, but not the U.S. nominal exchange rate b. the U.S. nominal exchange rate, but not the U.S. real exchange rate c. the U.S. nominal exchange rate and the U.S. real exchange rate d. neither the real exchange rate nor the nominal exchange rate