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प्रश्न
Which stage of the Law of Variable proportions will be the best for the producer? Explain with a reason.
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उत्तर
The producer will take the decision of his operation, among these three stages, through the process of elimination. Stage III will be eliminated as MP< 0. If the producer operates at any point in stage I before it ends, he won’t be able to enjoy the full advantage of maximum productivity as AP is continuously rising over the entire stage. Therefore, a rational producer will operate only in stage II.
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संबंधित प्रश्न
State the different phases of change in the total product according to the Law of Variable Proportions. Use diagram
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
Modern economists have propounded the law of
Bring out the Relationship among Total, Average and Marginal Products.
At the point of inflexion, ______ is maximum.
What are Average product?
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?
Which stage is shown when total production drops and marginal product becomes negative?
Why should businesses study the law of variable proportions?
