In the diagram, curves 1, 2, and 3 represent the total, marginal, and average product curves respectively. total, average, and m
1 answer:
In the diagram (see attachment), curves 1, 2, and 3 represent the: C. marginal, average, and total product curves respectively.
<h3>What is a product?</h3>A product can be defined as any physical object and tangible item that is typically produced by a manufacturer, so as to satisfy and meet the demands, needs or wants of every customer.
In Economics, some examples of products include the following:
- Pencils
- Laptop computers
- Mobile phones
- Television
- Microwave oven
A variable input can be defined as a type of resources which provides the additional (extra) inputs that is required and needed by a business firm in order to expand short-run production. Thus, labor is considered as the most common example of a variable input.
In conclusion, we can infer and logically deduce that curves 1, 2, and 3 in the diagram (see attachment) represent the marginal, average, and total product curves respectively
Read more on variable input here: brainly.com/question/25493860
#SPJ1
You might be interested in
Answer: See below
Explanation:
For this question, we are given the volume, and we want to find the diameter. We have to work backwards to get our radius, then to find the diameter.
(Volume of cylinder)
(The π cancel out)
(Plug in h=8)
(Divide 8)
(Square root of 9 is 3)
Now that we have our radius, we can find our diameter.
(Equation for diameter)
(Plug in r=3)
(Multiply)