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In the first stage of law of variable proportions, total product increases at the ______
- a)Decreasing rate
- b)Increasing rate
- c)Constant rate
- d)Both A And B
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
In the first stage of law of variable proportions, total product incre...
Law of Variable Proportions:
The law of variable proportions is a fundamental concept in economics that explains the relationship between the quantities of inputs used in the production process and the resulting output. According to this law, when one input is increased while the others are held constant, the output will eventually increase at a decreasing rate.
Total Product:
Total product is the total amount of output that is produced by a firm using a given set of inputs. It is the sum of the quantities of all goods or services produced by a firm in a given period.
First Stage of Law of Variable Proportions:
In the first stage of the law of variable proportions, the marginal product of labor increases at an increasing rate. This means that as more labor is added, the output increases more than proportionately. At this stage, the total product of the firm is increasing at an increasing rate.
Answer:
In the first stage of the law of variable proportions, the total product increases at an increasing rate. Therefore, the correct answer is option 'B'.
The law of variable proportions is a fundamental concept in economics that explains the relationship between the quantities of inputs used in the production process and the resulting output. According to this law, when one input is increased while the others are held constant, the output will eventually increase at a decreasing rate.
Total Product:
Total product is the total amount of output that is produced by a firm using a given set of inputs. It is the sum of the quantities of all goods or services produced by a firm in a given period.
First Stage of Law of Variable Proportions:
In the first stage of the law of variable proportions, the marginal product of labor increases at an increasing rate. This means that as more labor is added, the output increases more than proportionately. At this stage, the total product of the firm is increasing at an increasing rate.
Answer:
In the first stage of the law of variable proportions, the total product increases at an increasing rate. Therefore, the correct answer is option 'B'.
Community Answer
In the first stage of law of variable proportions, total product incre...
Correct answer will be (D) both A and B
as TP will increase in increasing rate till inflexion level and than will increase with decreasing level as MP is decreasing after inflexion ....
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In the first stage of law of variable proportions, total product increases at the ______a)Decreasing rateb)Increasing ratec)Constant rated)Both A And BCorrect answer is option 'B'. Can you explain this answer?
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