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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
Formula for calculating AP is
Who said, that one of the key of an entrepreneur is “uncertainty bearing”.
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Define Marginal Product of a factor.
Bring out the Relationship among Total, Average and Marginal Products.
When the Marginal Product turns negative, Total Product will ______.
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.
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 |
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?
Which stage is shown when total production drops and marginal product becomes negative?
