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प्रश्न
Bring out the Relationship among Total, Average and Marginal Products.
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उत्तर
| Stages | Total Product | Marginal Product | Average Product |
| Stage I | Initially, it increases at an increasing rate and then increases at a decreasing rate | At the beginning it increases, then reaches a maximum and starts to decrease | At the first instant it increases, then attains maximum |
| Stage II | It continues to increase at a diminishing rate and reaches maximum. | It continues to diminish and becomes equal to zero | It is equal to MP and then begins to diminish |
| Stage III | It diminishes | It becomes negative | It continues to diminish but always greater than zero (positive) |
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संबंधित प्रश्न
State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour
Explain the law of variable proportions with the help of a diagram.
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With the help of a diagram, explain the relationship between Average Product and Total Product under the Law of Variable Proportions.
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?
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?
