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SANDEEP GARG-PRODUCTION FUNCTION-Very Short Answer Type Question
- What do you mean by variable factors ?
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- What do you mean by fixed factors ?
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- Can Average product be zero or negative ?
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- Define marginal physical product
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- Can marginal product be zero or negative
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- What change will take place in marginal product, when total product in...
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- As the variable input increased by one unit, total output falls. What ...
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- Four units of labour produce 100 unit of output and 5 units of labour ...
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- Name the law expressing the relationship between the quantities of a v...
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- In which phase pf Law of Variable Proportions, a rational firm aims to...
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- Mention two reasons for occurrence of the phase of increasing returns ...
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- What is meant by diminishing returns to a factor ?
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- What is the general shape of the TP, AP and MP curves ?
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- What will happen to MP, when TP increases at an increasing rate ?
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- How will MP react, when TP rises at a diminishing rate ?
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- When MP is zero, what can you say about TP?
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- Define Average Product.
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- Give meaning of "Returns to a Factor".
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- Define short-run production function.
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- Give the meaning of 'Long run production function'.
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