You are watching: When total product is increasing at a decreasing rate, marginal product is
Answer: The relationship in between physical input and physical output of a certain is usually referred come as manufacturing function.The general form of production. Role is, q = f (x1 : x2) where, q = output, x1 = 1 input favor labour, x2 = another input prefer machinery
Answer: total product that an entry refers to total volume the goods and also services developed by a firm through the given inputs during a specified duration of time.
Answer: 1. Quick run: (a) A brief run refers to the period of time in which a firm cannot change some of its components like plant, machinery, building, etc. Because of insufficiency the time yet can change any variable variable like labour, raw material, etc. (b) Thus, in brief run, there will certainly be some components of production that are resolved at predetermined levels, e.g., a farmer may have fixed lot of land, 2. Long run: (a) A long run is a time period during i beg your pardon a firm can change all its determinants of production consisting of machines, building, organization, etc. (b) In various other words, that is a period of time during which gives can readjust itself to adjust in demand. Note: (i) Mind, right here the terms long run and short run are functional and also do not describe a calendar month or a year. (ii) This difference depends simply upon how conveniently factor inputs have the right to be readjust by producer in an industry.
Answer: The legislation of diminishing marginal product claims that when we applied more and more units of variable aspect to a provided quantity of solved factor, complete product boosts at a diminishing rate and also marginal product falls.
Answer: The legislation of change proportion claims that as we boost the quantity of only one input, maintaining other entry fixed, the total product boosts at raising rate in the beginning, then increases at to decrease rate and after a level the output eventually falls.
Q12. allow the production role of a firm it is in Q= together ^ 1/2 K ^ 1/2 find out the maximum possible output the the firm can develop with 100 devices of L and 100 units of K. Q=5 l ^ 1/2 K ^ 1/2 (Given)
Answer: \\ Q=5\times 100 ^ 1/2 \times 100 ^ 1/2 Q = 5 x 10 x 10 = 500 units So, the maximum feasible output(Q) = 500 units.
Answer: The relationship in between physical input and physical calculation of a for sure is usually referred come as manufacturing function.
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Q3. What change will take ar in marginal product when full product rises at a diminishing rate?