Which of the following statements best describes the relationship between average product and marginal products?...
ECONOMICS
JAMB 1998
Which of the following statements best describes the relationship between average product and marginal products?
- A. Marginal product and average product curves rise and falls together
- B. Marginal product equals average product at the minimum point of the latter
- C. Average product curve will rise as product is greater than average product
- D. Marginal product at the maximum point of the fomer
Correct Answer: B. Marginal product equals average product at the minimum point of the latter
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