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Which of the following staements accurat...

Which of the following staements accurately describe the relationship between AP and MP ?

A

AP rises when MP is above it and falls when MP is below it.

B

MP intersects AP at its minimum point.

C

AP and MP are always parallel to each other.

D

AP is always rising when MP is falling and vice-versa.

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Verified by Experts

The correct Answer is:
A
A. AP rises when MP is above it and falls when MP is below it.
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SANDEEP GARG-PRODUCTION FUNCTION-REVISION EXERCISE
  1. Which of the following staements accurately describe the relationship ...

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  2. When MP is zero, what can you say about TP?

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  3. Marginal Product refers to addition to total output when one more :

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  4. The period of time in which the plant capacity can be varied is known ...

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  5. is the extension of "Law of Diminishing Returns".

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  6. Law of Variable Proportions is also known as :

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  7. The maximum possible output for a firm with two units of labour (L) an...

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  8. Identify the phase in which TP increases at an increasing rate and MP ...

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  9. Which of the following is not a reason for operation of increasing ret...

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  10. When average product increases, the marginal product is :

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  11. What happens to AP, when MP is more than AP ?

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  12. What is the behaviour of TP, when MP becomes negative ?

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  13. According to Law of Variable Proportions, there are phases.

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  14. Average product cannot be negative because :

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  15. The law diminishing retuns refers to an eventual fall in :

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  16. The 2^(nd) phase (diminishing returns to a factor) is exhibited by the...

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  17. Which phase of Law of Viriable Proportions has been ruled out on the g...

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  18. A rational producer always aims to operate in of Law of Variable Prop...

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  19. In general, most of the production functions measures :

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  20. Product per unit of labour employed is termed as :

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