At the point of inflexion, the marginal product is:a)Increasingb)Decreasingc)Maximumd)NegativeCorrect answer is option 'C'. Can you explain this answer?

Question

Answer

At point of inflexion MP IS MAX and hereafter it starts Decreasing.

Answer

At the point of inflection , the MP is zero where as TP is maximum

Answer

Total product when mp is max is point of inflexion

Answer

Increase in all input leading to less than proportional increase in output is called

Answer

Upto the Point of Inflexion TP has been increasing at increasing rate resulting in increasing MP. From this point onwards TP increases at decreasing rate which results in falling MP. Hence, MP is maximum at Point of Inflexion.

Answer

Yes, at the inflexion point the marginal product is maximum after it the marginal product starts decreasing.

Answer

The correct answer is( D )at the point of inflexion  , the marginal product is maximum

Answer

The point of inflexion is a critical point in the production process where the marginal product changes from increasing to decreasing. At this point, the marginal product reaches its maximum value and starts to decline.

The marginal product refers to the additional output produced when one additional unit of input is added while keeping all other inputs constant. It represents the rate of change of output with respect to the change in input.

To understand why the marginal product is maximum at the point of inflexion, we need to consider the relationship between the marginal product and the total product. The total product is the total output produced by a given combination of inputs.

- Total Product and Marginal Product Relationship
At the beginning of the production process, as more units of a variable input are added to a fixed input, the total product increases at an increasing rate. This means that the marginal product is also increasing. However, as the production process continues, the total product eventually starts to increase at a decreasing rate. This is where the marginal product reaches its maximum value and starts to decline.

- Point of Inflexion
The point of inflexion occurs when the marginal product is maximum. This is the point where the total product curve changes its curvature from convex to concave. At this point, the slope of the total product curve is at its steepest, indicating the greatest increase in output per additional unit of input.

- Maximum Marginal Product
The maximum marginal product at the point of inflexion indicates that each additional unit of input added beyond this point will result in a decrease in the marginal product. This decline occurs because the fixed input becomes a limiting factor, and the variable input becomes less productive as it becomes crowded.

In conclusion, at the point of inflexion, the marginal product is maximum. This is the point where the total product curve changes its curvature from convex to concave, indicating the transition from increasing marginal product to decreasing marginal product. Each additional unit of input added beyond this point will result in a decline in the marginal product.

Similar CA Foundation Doubts

At the point of inflexion, the marginal product is

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The marginal, average, and total product curves encountered by the firm producing in the short run exhibit all of the following relationships except

Total utility starts decreasing when ______.

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