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The total product curve studied in class represents the relation between total production by a firm and the quantity variations of total inputs. O True O False

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The total product curve studied in class represents the relation between total production by a firm
and the quantity variations of total inputs.
O True
O False

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Please help me
QUESTION 20 According to the law of diminishing return in short run O If we double all inputs, output will decrease by more than double O If we double all inputs, output will increase by less than double O If we double all inputs, output will increase by double O as we hire more labors, while other inputs are fixed, the marginal product of exah extra labor will decrease QUESTION 21 Which of the following statements is true? The marginal and average product curves intersect at the maximum level of output. O The marginal product curve always has a positive slope. O At every output level the marginal product curve lies above the average product curve. O The marginal product = average product curves when average product is at its maximum. Click Save and Submit to save and submit. Click Save All Answers to save all answers. DEL
Please answer fast please arjent help a and b
Explanation it correctly