When Is Marginal Product Equal To Average Product

Question

1. If it takes a week to obtain a vendor's license and buy a pushcart, then a week would be the long run for the hot dog stand industry.

A) True
B) False

2. In general, marginal product equals average product at:

A) maximum marginal product.
B) minimum marginal product.
C) minimum average product.
D) maximum average product.


Summary

These multiple choice questions belong to Economics. The 1st question is about statement about a week being the long run and the 2nd question is about marginal product being equal to average product.

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