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Production Function: TP, MP and AP · Question 24 of 62

Question 24

MediumOriginal question

Read the two statements and choose the correct option.

I. The TP curve starts from the origin in the short run.

II. MP can be read as the slope of the TP curve.

Options for question 24

Show the answer and explanation
CorrectNot quiteAnswer C

Correct answer: C

Explanation

  1. With no variable input there is no output, so TP starts at zero: I is true.

  2. MP = ΔTP ÷ ΔL, which is the slope of TP: II is true.

Concept
TP curve basics
Typical time
70 s
Your time
—
The rule this testsTotal, marginal and average product
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