Which of the following relationship is correct? When marginal product (MP) starts to increase; marginal cost (MC) starts to increase O When marginal product (MP) starts to decrease, marginal cost (MC) starts to decrease O When marginal product (MP)starts to decrease, marginal cost (MC) starts to increase O When marginal cost (MC) starts to increase; average variable cost (AVC) starts to decrease

Which of the following relationship is correct? When marginal product (MP) starts to increase; marginal cost (MC) starts to increase O When marginal product (MP) starts to decrease, marginal cost (MC) starts to decrease O When marginal product (MP)starts to decrease, marginal cost (MC) starts to increase O When marginal cost (MC) starts to increase; average variable cost (AVC) starts to decrease

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 4CQQ

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QUESTION 8 Which of the following relationship is correct? O When marginal product (MP)starts to decrease, marginal cost (MC) starts to increase O When marginal product (MP) starts to increase; marginal cost (MC) starts to increase O When marginal product (MP) starts to decrease, marginal cost (MC) starts to decrease O When marginal cost (MC) starts to increase; average variable cost (AVC) starts to decrease Click Save and Submit to save and submit. Click Save All Answers to save all answers. F1 F2 F3 F4 F5 F6 F7 F8 林

Typically, the marginal cost curve is marginal returns suggests that added units are O upward-sloping; more costly to produce Odownward-sloping; more costly to produce O upward-sloping: less costly to produce because diminishing
Which of the following does not change with the level of output? O Total fixed cost O Margiņal cost O Total variable cost O Average fixed cost ఆత