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Draw a diagram with marginal product and average productExplain the relationship between marginal product and average product?
Wiki User
∙ 12y ago
Marginal product is any input in the production process is the increase in the quantity of output obtained from on additional unit of the input. Average product is the output produced when one more unit of the variable factor is employed
The relationship is state as:
If labour's marginal product is exceed its average product that means labour's average product will be rising.
Labour's average product will be falling. If labour's marginal product is less than its average product.
If labour's marginal product is equal its average product and the average product will reach the minimum value at the point.
Wiki User
∙ 12y ago
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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
Relationship between marginal cost and average total cost?
The cost curves best tells us the relationship between the marginal cost and average total cost. The average fixed cost (AFC) curve will decline as additional units are produced, and continue to decline.
What is the relationship between Average variable cost Average fixed cost and marginal cost?
we can subtract the AVC and we will get the MC
What is the relationship between total average and marginal revenue under monopoly with the help of schedule and diagram?
Total average pertains to annual revenue. While marginal revenue is equivalent to quarterly profits. The relationship between the two is only that one is the dividend of the other.
Relationship between Tota Product Marginal Product and Average Product?
Average Product = (Total Product) / (Labor) Marginal Product(2) = (Total Product)(2) - (Total Product)(1)
What Relation between marginal cost and average cost?
relation ship between average cost and marginal cost
What is the relationship between marginal product and average product?
1.when tp increases mp decreses. 2.when tp is at his highest point, mp is 0. 3.when tp decreses ,mp becomes negetive. and i have no idea what im talking abouT its dumb they should just give it to guys!
Relationship between total and marginal product?
Total product is the sum of all marginal products.
How does the relationship between marginal cost and marginal benefit impact producers?
It helps producers decide how much of a good to make.
How does the relationship between marginal cost and marginal benefit impact producer?
It helps producers decide how much of a good to make.
Marginal product curve?
A marginal product curve is a visual presentation that demonstrates the relationship between the marginal product and the quantity of its input. All other inputs are fixed.
What is the relationship between marginal cost and average cost curves?
Margianal cost curve crosses the average total cost curve at the lowest point on the average total cost curve to be socially and ecomonical efficient.
