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What is the law of diminishing marginal ...

What is the law of diminishing marginal product?

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The Law of diminishing marginal product states that when we applied more and more units of variable factor to a given quantity of fixed factor, total product increases at a diminishing rate and marginal product falls .
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FULL MARKS-PRODUCTION-NCERT TEXTBOOK QUESTIONS SOLVED
  1. Explain the relationship between the marginal products and the total p...

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  2. Explain the concepts of the short run and the long run.

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  3. What is the law of diminishing marginal product?

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  4. What is the law of variable proportions? OR Define the law of vari...

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  5. When does a production function satisfy constant returns to scale?

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  6. When does a production function satisfy increasing returns to scale?

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  7. When does a production function satisfy decreasing returns to scale?

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  8. The following table gives total product schedule of labour. Find avera...

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  9. The following table gives the average product schedule of labour. Find...

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  10. The following table gives the marginal product schedule of labour. It ...

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  11. Let the production function of a firm be Q=5L^(1//2)K^(1//2) . Find th...

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  12. Let the production function of a firm be Q=2L^(2) K^(2). Find out the...

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  13. Find out the maximum possible output for a firm with zero unit of L an...

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  14. Explain the concept of a production function.

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  15. In which run some factors of production are fixed and others are varia...

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  16. What change will take place in marginal product when total product inc...

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  17. In which phase of Law of Variable Proportions a rational firm aims to ...

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  18. What is meant by diminishing returns to a factor?

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  19. What is the general shape of the AP and MP curves?

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  20. How does fall in marginal production affect total output?

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