Advertisements
Advertisements
प्रश्न
What are Average product?
What is meant by average product?
Advertisements
उत्तर
Average product is the production per unit of a factor, such as labor. It is expressed as APL = `(TP)/L or Q/L`, where AP = Average Product, TP = Total Product and L = Units of Labour (or other variable input)
संबंधित प्रश्न
What is the law of variable proportions?
Formula for calculating AP is
Product obtained from additional factors of production is termed as
Modern economists have propounded the law of
When the Marginal Product turns negative, Total Product will ______.
Why is the AVC curve U-shaped?
At the point of inflexion, ______ is maximum.
With the help of a diagram, explain the relationship between Average Product and Total Product under the Law of Variable Proportions.
What is marginal product?
With the help of a suitable diagram, discuss the relationship between Average product and Marginal Product.
Which stage of the Law of Variable proportions will be the best for the producer? Explain with a reason.
Which term describes the extra output from adding one more unit of labour in production?
Which stage is shown when total production drops and marginal product becomes negative?
Why should businesses study the law of variable proportions?
