Reference no: EM131071133
1. The slope of the total product curve is:
a) fixed product
b) average product
c) marginal product
d) implicit product
2. Marginal product, mathematically, is the slope of the:
a) total product curve
b) average product curve
c) marginal product curve
d) opportunity product curve
3. Variable costs include:
a) the cost of raw materials
b the salaries of top management
c) rent on leased buildings
d) all of the above
4. When a total product curve is increasing at a decreasing rate, its corresponding marginal product curve is:
a) rising
b) falling
c) vertical
d) negative
5. When a total product curve is increasing at an increasing rate, its corresponding marginal product curve is:
a) vertical
b) horizontal
c) rising
d) falling
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