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At a point of inflexion in the law of variable proportions, the maximum output or productivity of a factor of production occurs when the marginal product of that factor begins to decline. This point indicates a shift in the relationship between input and output, where the addition of more of a variable input (while keeping others constant) leads to diminishing returns. Consequently, the total product curve changes from increasing at an increasing rate to increasing at a decreasing rate, highlighting the transition in production efficiency.
What else can I help you with?
Explain with diagram the law of variable proportion?
Sometimes referred to as the law of diminishing returns, the law of variable proportions is concerned with the effect of changes in the proportion of the factors of production used to produce output. As the proportion of one input increases relative to all other inputs, at some point there will be decreasing marginal returns from that input. Adding more units of an input, holding all other inputs constant, will at some point cause the resulting increases in production to decrease, or equivalently, the marginal product of that input will decline. Among the inputs held constant is the level of technology used to produce that output. This is an empirical law and is therefore a generalization about the nature of the production process and cannot be proven theoretically (see Friedman, 1976; Stigler, 1966). Applied to management, Friedman argues that the law of variable proportions requires firms to produce by using inputs in such proportions that there are diminishing average returns to each input in production.
How would you determine the maximum inflation point when taking blood pressure?
you can determine the maximum inflation point when taking blood pressure by using palpation.
Can you calculate the fixed cost variable costs and break-even point for the program suggested in Appendix D?
Calculate the fixed cost, variable costs, and break-even point for the program suggested in Appendix D.
What is happening to average variable costs when they equal marginal costs?
When average variable costs equal to the average marginal cost, the average variable cost will be at the minimum point. i.e. lowest cost
At what point does the marginal cost (MC) curve intersect the average variable cost (AVC) curve?
The marginal cost (MC) curve intersects the average variable cost (AVC) curve at the minimum point of the AVC curve.
Is point of contraflexure different from point of inflexion?
no, point of inflexion is the another name of point of contraflexure
Why there is a sharp increase in the pH in the pH meter experiment?
The inflexion point
How do you find the minimum or maximum of a function and example?
It depends on the function. Some functions, for example any polynomial of odd order, will have no maximum or minimum. Some functions, such as the sine or cosine functions, will have an infinite number of maxima and minima. If a function is differentiable then a turning point can be found by finding the zero of its derivative. This could be a maximum, minimum or a point of inflexion. If the derivative before this zero is negative and after the zero is positive then the point is a minimum. If it goes from positive to negative, the pont is a maximum, and if it has the same sign (either both +ve or both -ve) then it is a point of inflexion. A second derivative can help answer this quicker, but it need not exist. These are all well behaved functions. The task is much more complicated for ill behaved functions. Consider, for example, the difference between consecutive primes. The minimum is clearly 1 (between 2 and 3) but the maximum? Or the number of digits between 1 and 4 in the decimal expansio of pi = 3.14159.... Minimum digit between = 0 (they are consecutive near the start of pi), but maximum?
What do error bar show within?
The centre of the error bar shows the point estimate for a variable and the bits that stick out are the likely minimum and maximum values.
What is fix point and variable point?
fix point means a point that is not going to move variable point means a point that will move under certain conditions
What is the extreme point called on a parabola?
The vertex, or maximum, or minimum.
How do you find the ponts of inflexion on a curve?
At the point of inflexion:the first derivative must be zero. the second derivative must be zero, if the next derivative is zero then the one following that must also be zero.
What is the dependent variable of Milgram's experiment?
The dependent variable in Milgram's experiment was the level of obedience shown by the participants, measured by the maximum voltage of electric shocks they were willing to administer to another person when instructed by an authority figure.
As a curve approaches a maximum point the slope will do what?
The slope of the tangent line at the maximum point of the curve is zero. So we say that as a curve point approaches to the maximum point, the slope of the tangent line at that point approaches to zero.
If a parable has a maximum point what shape does it have?
If you mean a parabola with a maximum point then it will look like an umbrella.
Where is the point on the parabola for the maximum area?
The point on the parabola where the maximum area occurs is at the vertex of the parabola. This is because the vertex represents the maximum or minimum point of a parabolic function.
The difference between set-point and the process variable is called?
The error is the difference between the set-point and the process variable. It represents the deviation that the controller needs to correct in order to maintain the process variable at the desired set-point.
