Production Functions Quiz

Marginal product of the input (correct)

Cost of the input

Average product of the input

Total product of the input

The total cost of production

The number of workers required for production

The total revenue from production

A mathematical equation showing the relationship between inputs and outputs in production (correct)

The average product of the variable input will always increase

As additional units of a variable input are added to fixed inputs, the marginal product of the variable input will eventually decrease (correct)

The marginal product of the variable input will always increase

The total product of the variable input will always increase