Advertisements
Advertisements
प्रश्न
At the point of inflexion, ______ is maximum.
पर्याय
total product
total cost
average product
marginal product
Advertisements
उत्तर
At the point of inflexion, marginal product is maximum.
Explanation:
The point of inflection marks the point at which the production curve changes curvature. The marginal product reaches its maximum value at the point of inflection. This indicates that the additional output made possible by adding one more unit of input is at its maximum. It indicates that a firm's returns on input are diminishing beyond that point.
APPEARS IN
संबंधित प्रश्न
State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour
What are the different phases in the Law of Variable Proportions in terms of Total Product ? Give reasons behind each phase. Use diagram.
Who said, that one of the key of an entrepreneur is “uncertainty bearing”.
The short-run production is studied through
Product obtained from additional factors of production is termed as
Modern economists have propounded the law of
Bring out the Relationship among Total, Average and Marginal Products.
Which one of the following is NOT a ceteris paribus assumption of the Law of Supply?
Why is the AVC curve U-shaped?
With the help of a diagram, explain the relationship between Average Product and Total Product under the Law of Variable Proportions.
Study the data given below and identify the laws followed in the production of A and B depicted in the Table I and Table II. Justify your answer with a reason for each.
| Table I | Table II | ||||
| Machines | Labour | Output of A (units) | Machines | Labour | Output of B (units) |
| 5 | 10 | 1000 | 5 | 10 | 400 |
| 5 | 11 | 1150 | 10 | 20 | 800 |
| 5 | 12 | 1310 | 15 | 30 | 1200 |
What are Average product?
With the help of a suitable diagram, discuss the relationship between Average product and Marginal Product.
What happens to marginal product after a certain point, if more and more labour is added to fixed land?
What is the formula for calculating Average Product?
Which stage is shown when total production drops and marginal product becomes negative?
Why should businesses study the law of variable proportions?
