Diminishing a. Average Productivity b. Consumption C. Marginal Productivity d. Revenue 12. The practice of giving up something, in exchange for another thing is exemplified in the principle of O a. Commodity Substitution b. Opportunity Cost O . Substitution Effect O d. Utility Substitution The Total Cost curve is directly proportional with the, curve. a. Average Total Cost b. Fixed Cost c. Marginal Cost d. Variable Cost

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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24 25 26

The peak of the Average Product
Curve is also called as the Point of
Transcribed Image Text:The peak of the Average Product Curve is also called as the Point of
Diminishing
a. Average Productivity
b. Consumption
C. Marginal Productivity
d. Revenue
12. The practice of giving up
something, in exchange for
another thing is exemplified in the
principle of
O a. Commodity Substitution
b. Opportunity Cost
O . Substitution Effect
O d. Utility Substitution
The Total Cost curve is directly
proportional with the,
curve.
a. Average Total Cost
b. Fixed Cost
c. Marginal Cost
d. Variable Cost
Transcribed Image Text:Diminishing a. Average Productivity b. Consumption C. Marginal Productivity d. Revenue 12. The practice of giving up something, in exchange for another thing is exemplified in the principle of O a. Commodity Substitution b. Opportunity Cost O . Substitution Effect O d. Utility Substitution The Total Cost curve is directly proportional with the, curve. a. Average Total Cost b. Fixed Cost c. Marginal Cost d. Variable Cost
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