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प्रश्न
What are Average product?
What is meant by average product?
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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
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.
Explain the law of variable proportions with the help of a diagram.
Formula for calculating AP is
Product obtained from additional factors of production is termed as
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?
At the point of inflexion, ______ is maximum.
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.
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?
