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QUESTION 26 Which of the following statements is true? O A The marginal and average product O B. At every output level the marginal O C. The marginal product and average O D. The marginal curves intersect at the maximum product curve lies above the average product curves intersect when average product curve level of output. product curve. product is at its maximum. always has a positive slope. QUESTION 27 1 points Save Ans Which of the following relationship is correct? O A When marginal product(MP) starts O B. When marginal product C. When marginal product (MP) O D. When marginal cost (MC) starts to decrease, marginal cost (MC) (MP)starts to decrease, marginal starts to increase; marginal cost to increase : average product of starts to decrease cost (MC) starts to increase (MC) starts to increase labor (APL) starts to increase QUESTION 28 1 points Save AnQUESTION 29 points A firm will earn normal profits when price: O A Equals marginal cost O B. Equals average variable cost C. Equals average total cost D. Exceeds minimum average total cost (MC) (AVO) (AC) (AC) ve All Answers Close Window Say