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)
APPEARS IN
संबंधित प्रश्न
What are the different phases in the Law of Variable Proportions in terms of Total Product ? Give reasons behind each phase. Use diagram.
What is the law of variable proportions?
Explain the law of variable proportions with the help of a diagram.
Who said, that one of the key of an entrepreneur is “uncertainty bearing”.
The short-run production is studied through
Mention the economies reaped from inside the firm
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?
When the Marginal Product turns negative, Total Product will ______.
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 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?
Why should businesses study the law of variable proportions?
