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Author Question: If a product's price increases, then its: a. MP will increase. b. MFC will increase. c. MRP will ... (Read 50 times)

imowrer

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on: Jun 30, 2018
If a product's price increases, then its:
 a. MP will increase.
  b. MFC will increase.
  c. MRP will increase.
  d. MP will decrease.

Question 2

Which of the following is true at the point where diminishing returns set in?
 a. Both marginal product and marginal cost are at a maximum.
  b. Both marginal product and marginal cost are at a minimum.
  c. Marginal product is at a maximum and marginal cost at a minimum.
  d. Marginal product is at a minimum and marginal cost at a maximum.


lorealeza

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


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