Advertisements
Advertisements
Question
Product obtained from additional factors of production is termed as
Options
Marginal product
Total product
Average product
Annual product
Solution
Marginal product
APPEARS IN
RELATED QUESTIONS
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
Answer the following question.
Explain the law of variable proportions with the help of a diagram.
Who said, that one of the key of an entrepreneur is “uncertainty bearing”.
Modern economists have propounded the law of
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?
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.
What are Average product?
What are Marginal product?
With the help of a suitable diagram, discuss the relationship between Average product and Marginal Product.
Which stage of the Law of Variable proportions will be the best for the producer? Explain with a reason.
