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प्रश्न
Bring out the Relationship among Total, Average and Marginal Products.
उत्तर
| Stages | Total Product | Marginal Product | Average Product |
| Stage I | Initially, it increases at an increasing rate and then increases at a decreasing rate | At the beginning it increases, then reaches a maximum and starts to decrease | At the first instant it increases, then attains maximum |
| Stage II | It continues to increase at a diminishing rate and reaches maximum. | It continues to diminish and becomes equal to zero | It is equal to MP and then begins to diminish |
| Stage III | It diminishes | It becomes negative | It continues to diminish but always greater than zero (positive) |
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संबंधित प्रश्न
State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour
What is the law of variable proportions?
Answer the following question.
Explain the law of variable proportions with the help of a diagram.
Formula for calculating AP is
Mention the economies reaped from inside the firm
Product obtained from additional factors of production is termed as
Define Marginal Product of a factor.
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 |
What are Average product?
What are Marginal product?
Which stage of the Law of Variable proportions will be the best for the producer? Explain with a reason.
