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In a relationship among total, average and marginal products, where TP is maximized: *       A)AP is maximized       B)AP is equal to zero       C)MP is equal to zero       D)MP is maximized

In a relationship among total, average and marginal products, where TP is maximized: *       A)AP is maximized       B)AP is equal to zero       C)MP is equal to zero       D)MP is maximized

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1)

In a relationship among total, average and marginal products, where TP is maximized: *
 
 
 
A)AP is maximized
 
 
 
B)AP is equal to zero
 
 
 
C)MP is equal to zero
 
 
 
D)MP is maximized
 
 
Q2)
The method which can give some information in estimating demand of a product that hasn’t yet come to market is: *
 
 
 
a)a statistical demand analysis
 
 
 
B)the consumer survey
 
 
 
C)market experimentation
 
 
 
D)plotting the data
 
 
3)
An example of a time series data set is one for which the: *
 
 
 
1)data would be collected for a given firm for several consecutive periods (e.g., months).
 
 
 
2)data is created from a random number generation program.
 
 
 
3)data would be collected for several different firms at a single point in time.
 
 
 
4)regression analysis comes from data randomly taken from different points in time.
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