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When average product increases, the marg...

When average product increases, the marginal product is :

A

Less than average product

B

Equal to the average product

C

More tha average product

D

None of these

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The correct Answer is:
C
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Average product will increase only when marginal product increases. OR Average product rises only where marginal product rises.

Comment on the following statement: "When average product and marginal product are equal, marginal product is at its maximum."

Total product will increase only when marginal product increases.

SANDEEP GARG-PRODUCTION FUNCTION-REVISION EXERCISE
  1. Identify the phase in which TP increases at an increasing rate and MP ...

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  2. Which of the following is not a reason for operation of increasing ret...

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  3. When average product increases, the marginal product is :

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  4. What happens to AP, when MP is more than AP ?

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  5. What is the behaviour of TP, when MP becomes negative ?

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  6. According to Law of Variable Proportions, there are phases.

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  7. Average product cannot be negative because :

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  8. The law diminishing retuns refers to an eventual fall in :

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  9. The 2^(nd) phase (diminishing returns to a factor) is exhibited by the...

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  10. Which phase of Law of Viriable Proportions has been ruled out on the g...

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  11. A rational producer always aims to operate in of Law of Variable Prop...

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  12. In general, most of the production functions measures :

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  13. Product per unit of labour employed is termed as :

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  14. When AP is maximum, MP is equal to:

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  15. Variable factors refer to those factors of production :

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  16. Both AP and MP curves are generally :

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  17. In describing a given production technology, the short run is best des...

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  18. is the period of time in which all the factors of production are varia...

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  19. The 'Marginal Product' of a variable input is best described as :

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  20. On the basis of following schodule, answer the following questions : ...

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