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In short run TPP changes with the change in
  • a)
    Marginal Product
  • b)
    Average product
  • c)
    Total Product
  • d)
    Average cost
Correct answer is option 'A'. Can you explain this answer?
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In short run TPP changes with the change ina)Marginal Productb)Average...
Total production product changes with the marginal utility of the product because TP increases at diminishing rate of MP and TP is maximum when MP=0
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In short run TPP changes with the change ina)Marginal Productb)Average...
Total production product changes with the marginal utility of the product .....
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In short run TPP changes with the change ina)Marginal Productb)Average...
Because TP increases at diminishing rate of MPand TP is maximum when MP=0
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Direction: Read the following passage and answer the question that follows:The slope of a total revenue curve is particularly important. It equals the change in the vertical axis (total revenu e) divided by the change in the horizontal axis (quantity) between any two points. The slope measures the rate at which total revenue increases as output increases. We can think of it as the increase in total revenue associated with a 1-unit increase in output. The increase in total revenue from a 1-unit increase in quantity is marginal revenue. Thus marginal revenue (MR) equals the slope of the total revenue curve.How much additional revenue does a radish producer gain from selling one more pound of radishes? The answer, of course, is the market price for 1 pound. Marginal revenue equals the market price. Because the market price is not affected by the output choice of a single firm, the marginal revenue the firm gains by producing one more unit is always the market price. The marginal revenue curve shows the relationship between marginal revenue and the quantity a firm produces. For a perfectly competitive firm, the marginal revenue curve is a horizontal line at the market price. If the market price of a pound of radishes is $0.40, then the marginal revenue is $0.40. Marginal revenue curves for prices of $0.20, $0.40, and $0.60. In perfect competition, a firm’s marginal revenue curve is a horizontal line at the market price.Price also equals average revenue, which is total revenue divided by quantity. To obtain average revenue (AR), we divide total revenue by quantity, Q. Because total revenue equals price (P) times quantity (Q), dividing by quantity leaves us with price.Q. The marginal revenue curve shows the relationship between ..................... and ......................

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In short run TPP changes with the change ina)Marginal Productb)Average productc)Total Productd)Average costCorrect answer is option 'A'. Can you explain this answer?
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