Advertisements
Advertisements
प्रश्न
Which stage of the Law of Variable proportions will be the best for the producer? Explain with a reason.
Advertisements
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.
APPEARS IN
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.
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
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 |
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?
Which stage is shown when total production drops and marginal product becomes negative?
Why should businesses study the law of variable proportions?
