Advertisements
Advertisements
प्रश्न
At the point of inflexion, ______ is maximum.
विकल्प
total product
total cost
average product
marginal product
उत्तर
At the point of inflexion, marginal product is maximum.
Explanation:
The point of inflection marks the point at which the production curve changes curvature. The marginal product reaches its maximum value at the point of inflection. This indicates that the additional output made possible by adding one more unit of input is at its maximum. It indicates that a firm's returns on input are diminishing beyond that point.
APPEARS IN
संबंधित प्रश्न
State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour
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.
What is the law of variable proportions?
Formula for calculating AP is
The short-run production is studied through
Mention the economies reaped from inside the firm
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?
When the Marginal Product turns negative, Total Product will ______.
Why is the AVC curve U-shaped?
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 |
Which stage of the Law of Variable proportions will be the best for the producer? Explain with a reason.
