PRODUCTION FUNCTION

SEND THE SCREENSHOT OF YOUR SCORE TO WHATSAPP OF SIR.

THE AVERAGE PHYSICAL PRODUCT IS DEFINED AS........................
TPP*N
TPP/N
MPP/N

........................REFERS TO A CHANGE IN TPP BY EMPLOYING AN ADDITIONAL UNIT OF A VARIABLE FACTOR.
APP
MPP
TPP

ALL THE FACTORS ARE VARIABLE IN SHORT RUN?
FALSE
TRUE

WHEN TPP RISES, THE MPP MAY.....................................
INCREASE
DECREASE
BOTH MAY INCREASE OR DECREASE DEPENDING UPON THE RATE OF INCREASE IN TPP
NONE OF THE ABOVE

WHEN MPP IS NEGATIVE, THE APP..............................
IS ALSO NEGATIVE
FALLS
INCREASES
REMAINS CONSTANT

MACHINERY OF BIG SIZE IS A .............................
FIXED FACTOR
VARIABLE FACTOR
BOTH FIXED AND VARIABLE
NONE OF THE ABOVE

WHEN MPP IS ZERO, TPP IS................................
MINIMUM
MAXIMUM
CONSTANT
FALLS

THE PRODUCER OPERATES IN THE................................OF LAW OF VARIABLE PROPORTION
THIRD STAGE
FIRST STAGE
SECOND STAGE
NONE OF THE ABOVE

IF A FIRM EMPLOYS 50 WORKERS AND ITS APP IS 10 UNITS, WHAT WILL BE VALUE OF TPP?
50
500
5000
5

IF MPP IS NEGATIVE, TPP........................
INCREASES
DECREASES
IS ZERO
CONSTANT

MATCH THE FOLLOWING
DELTA TPP/DELTA N
PRODUCTION
TPP/N
APP*N
TPP
APP
MPP
CREATION OF UTILITY

EXPLAIN LAW OF VARIABLE PROPRTION.

WHY DOES FIRST STAGE OF LAW OF VARIABLE PROPRTIONS OPERATE? GIVE REASONS

DEFINE FOLLOWING THREE TERMS

EXPLAIN THE RELATION BETWEEN MPP AND TPP