At what point does marginal product equal average product?

A) where average product is equal to its minimum value
B) where average product is equal to its maximum value
C) where marginal product is equal to its minimum value
D) where marginal product is equal to its maximum value

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Byron Stuckey · Accepted Answer

Final Answer : B, Explanation :  Marginal product equals average product at the point where average product reaches its maximum value. This is because as more units of a variable input are added, the average product increases until it reaches a peak, at which point the marginal product (the additional output from one more unit of input) equals the average product. After this point, the marginal product starts to decline, indicating that each additional unit of input contributes less to total output, pulling the average product down.

At what point does marginal product equal average product?

A) where average product is equal to its minimum value
B) where average product is equal to its maximum value
C) where marginal product is equal to its minimum value
D) where marginal product is equal to its maximum value

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Learning Objectives

Related questions

At what point does marginal product equal average product?A) where average product is equal to its minimum valueB) where average product is equal to its maximum valueC) where marginal product is equal to its minimum valueD) where marginal product is equal to its maximum value

Definitions

Learning Objectives

Learning Objectives

Related questions

At what point does marginal product equal average product?

A) where average product is equal to its minimum value
B) where average product is equal to its maximum value
C) where marginal product is equal to its minimum value
D) where marginal product is equal to its maximum value