The change in ourtput or total product the business would achieve in the current period byexpanding the usė of an input by another unit is: O The Marginal physical product (b) Thie Total physicał product (0) The Average pbysical product (d) The Marginal valuè product,

Q: When the average product is increasing, marginal product: a. equals average product b. is…

A: Average product (AP) is the output produced per unit of input (labor, capital, etc.) used. It is…

Q: rease in average

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Q: what is the main difference between average physical and marginal physical product?  describe the…

A: Q) what is the main difference between average physical and marginal physical product? APP means the…

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Q: (a) What is meant by a firm's expansion path? (b) Name and explain the curve that can be produced…

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Q: 19. Fill in the blanks in the accompanying table shown at the bot- tom of the page and answer the…

A: We have used the following formulae: Marginal product= Change in total product/Change in variable…

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A: According to the given question The return to scale refers to the response of the total output of…

Q: When marginal product is occurs between points A and average product in decreasing average product,…

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Q: a. Firm A is producing 20,000 units of output, incurring a total cost of $2,000,000 and total…

A: Total cost is the cost of production of total quantity.  Average cost is the cost of production per…