Economics Paper 35
1A curve that represents all combinations of market baskets that provide the
same level of utility to a consumer is called:
2The slope of an indifference curve reveals that:
3The law of diminishing returns applies to
4In the long run:
5According to the law of diminishing returns
6The slope of the total product curve is the
7The short run is
8The marginal product of an input is
B.
9Average product is defined as:
10Marginal product crosses the horizontal axis (is equal to zero) at the point
where:
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