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What happens to the marginal product when the total product is increasing but at a decreasing rate?
When the total product is increasing but at a decreasing rate, the marginal product will also decrease.
When a production function gets flatter the marginal product is increasing?
True
What are increasing marginal returns?
ncreasing marginal returns mean that marginal product is greater for each subsequent unit of a variable input than it was for the previous unit. Decreasing marginal returns, as such, mean that marginal product is less for each subsequent unit of a variable input than it was for the previous unit.
Is it possible for the marginal product of capital to be negative in an economic context?
Yes, it is possible for the marginal product of capital to be negative in an economic context. This occurs when adding more capital to the production process leads to a decrease in output, indicating inefficiency or diminishing returns.
Explain why marginal physical product would diminish as More professors are hired in the economics department?
zabi
When average product is highest Options Total product is maximum Marginal product is maximum Marginal product is zero Marginal product is negative?
Negative
What happens to the marginal product when the total product is increasing but at a decreasing rate?
When the total product is increasing but at a decreasing rate, the marginal product will also decrease.
What is increasing returns to a factor?
It occurs when an additional unit of labour employed brings a marginal product greater than the previous marginal product.
When a production function gets flatter the marginal product is increasing?
True
What are increasing marginal returns?
ncreasing marginal returns mean that marginal product is greater for each subsequent unit of a variable input than it was for the previous unit. Decreasing marginal returns, as such, mean that marginal product is less for each subsequent unit of a variable input than it was for the previous unit.
Is it possible for the marginal product of capital to be negative in an economic context?
Yes, it is possible for the marginal product of capital to be negative in an economic context. This occurs when adding more capital to the production process leads to a decrease in output, indicating inefficiency or diminishing returns.
Explain why marginal physical product would diminish as More professors are hired in the economics department?
zabi
What is the Value of marginal product of labor?
Marginal product of labour is no of quantity u can get by increasing labour by one quantity i.e in simple term suppose u have N labour initially and they r manufacturing P product and then u r hiring one more labour for your work keeping all other factore constant so now your production is P' so P'-P is called marginal product of labour and if u r multiplying it with price of one product u will get value of marginal product of labor.
How do you input the marginal product equation in excel?
how do you find marginal product on excel
Relationship between Tota Product Marginal Product and Average Product?
Average Product = (Total Product) / (Labor) Marginal Product(2) = (Total Product)(2) - (Total Product)(1)
What is the difference between the marginal product of labor and the marginal revenue product of labor?
moarginal product of labor
What is the relationship between marginal physical product MPP and marginal cost MC Provide an examples?
what is the relationship between marginal physical product and marginal cos
