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Which of the Following Statements Are True Or False? Give Valid Reasons in Support of Your Answer. Average Product Curve and Marginal Product Curves Are 'U-shaped' Curves. - Economics

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MCQ
True or False

Explain whether the statement is true or false with reasons.

 Average product curve and Marginal product curves are 'U-shaped' curves.

Options

  • True

  • False

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Solution

Average product curve and Marginal product curves are 'U-shaped' curves: This statement is false.

Average product curve and Marginal product curves are 'Inverse U-shaped' curves.

Concept: Shapes of Product Curves
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