ECONOMICS
PROFIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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greater than one
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equal to one
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equal to zero
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less than one
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Detailed explanation-1: -When a total product is at a maximum, marginal product is equal to zero. (b) False.
Detailed explanation-2: -Total product is at its maximum if and only if marginal product is zero. When average product is equal to marginal product, average product is at its maximum.
Detailed explanation-3: -Total product is maximized when the marginal product is zero. True. The point at which the marginal product is zero is the point at which the total product is maximized. Past this point, the marginal product is negative, which means that total production decreases.
Detailed explanation-4: -When the total product is maximum, the marginal product is zero.
Detailed explanation-5: -Answer and Explanation: When the total product (TP) is at its maximum level, then marginal product is zero. Marginal product is the slope of the total product. So, at maximum total product, the slope is equal to zero.