Tag: total product, average product and marginal product
Questions Related to total product, average product and marginal product
If Stage I = Increasing Returns, Stage II = Diminishing Returns, and Stage III = Negative Marginal Returns, answer the questions:
A Rational Producer will not operate in Stage I due to the reason that -
In which stage of production would a rational entrepreneur like to operate?
A Rational Producer intends to work in-
You are given the following data:
Factor | Output |
---|---|
0 | 0 |
1 | 15 |
2 | 35 |
3 | 60 |
4 | 92 |
5 | 140 |
The above data is an example of:
If a change in scale inputs leads to a proportional change in the output, it is a case of-
If as a result of a 50% increase in all inputs, the output rises by 75%, this is a case of:
In the very beginning of production generally, the Increasing Returns to scale is found because-
A rational producer will always operate in which stage of law of variable proportion?
Second stage of law of variable proportion ends where __________.
Returns to scale means ________________.