ECONOMICS
TECHNOLOGY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
zero
|
|
|
positive
|
|
|
negative
|
|
|
at its maximum
|
Detailed explanation-1: -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-2: -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-3: -When the total product is maximum, the marginal product is zero. Marginal product is the slope of the total product curve, and marginal product rises as the slope of the total product curve increases, falls as the slope of the total product curve declines.
Detailed explanation-4: -Diminishing returns occur when the marginal product of the variable input is negative. That is when a unit increase in the variable input causes total product to fall. At the point that diminishing returns begin the MPL is zero.
Detailed explanation-5: -Answer and Explanation: When the total product curve reaches its maximum point, the value of the marginal product at that point is b. zero. When the marginal product curve (MP) has values above zero, the total product increases.