1. When marginal product equals zero a. total product decreases. b. total produc

ID: 1181290 • Letter: 1

Question

1. When marginal product equals zero

a. total product decreases.

b. total product decreases.

c. total product is maximized.

d. total product equals zero.

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When PX = $100, MPX = 4 and MRx = $10, the marginal revenue product of X equals:

a. $100.

b. $50.

c. $40.

d. $5.

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The cost of duplicating productive capability using current technology is called:

a. current cost.

b. historical cost

c. replacement cost.

d. opportunity cost.

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If marginal cost is less than average cost:

a. marginal cost must be falling.

b. average cost must be falling.

c. average cost must be rising.

d. none of these.

1 a

2 c

3 d

4 c

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