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प्रश्न
Which of the following statement is true?
पर्याय
Marginal Product refers to total output produced by a firm during a given period of time with given number of inputs.
Average Product refers to total output produced by a firm during a given period of time with given number of inputs.
Total Product refers to total output produced by a firm during a given period of time with given number of inputs.
Total Product refers to total input produced by a firm during a given period of time with given number of output.
उत्तर
Total Product refers to total output produced by a firm during a given period of time with given number of inputs.
Explanation:
Total output from a given number of inputs can be defined as total product. The total product is calculated by multiplying the average product by the number of units of the variable factor.
