If marginal product is decreasing what can we say about what is happening to average product? Explain
What will be an ideal response?
You can't actually say anything about it. If marginal product is above average product but still decreasing it will bring the average product up. If marginal product is below average product it will bring average product down.
Economics
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If, when you consume another piece of candy, your marginal utility is zero, then
A) you want more candy. B) you have not yet reached the point of diminishing marginal utility. C) you should consume less candy. D) you have maximized your total utility from consuming candy.
Economics
An example of an excise tax is the
a. poll tax on every citizen b. property tax on real estate c. corporate income tax d. property tax on personal belongings e. unit tax on a movie ticket
Economics