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Intersection between average product and marginal product

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Reference no: EM132156946

1. Questions about average product(AP) and marginal product(MP). Briefly answer the following questions.

a. What is special about the intersection between average product and marginal product?

b. If the slope of the total product curve becomes steeper as quantity of an input used increases, what is true about the marginal product curve for that input?

c. Is the slope of the total product curve likely to become steeper at low or high levels of production?

Reference no: EM132156946

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