Consider that all inputs in a production process are constant except only one input. If the total product in this case is at its maximum, the corresponding marginal product is :
Zero
When all inputs except one are held fixed, production is governed by the law of variable proportions. Marginal product (MP) is the change in total product (TP) from one extra unit of the variable input: \(MP = \dfrac{\Delta TP}{\Delta L}\).
As the variable input increases, TP first rises at an increasing rate, then at a diminishing rate, reaches a maximum, and finally declines. TP keeps rising only as long as MP is positive. At the exact point where TP attains its maximum, the slope of the TP curve is zero, so \(\dfrac{dTP}{dL} = MP = 0\). Beyond that point MP becomes negative and TP falls, which marks the start of the third stage of production.
MP is at its maximum at the inflexion point of TP, well before TP peaks, so a maximum MP does not match. MP is rising only in the early phase of increasing returns, and although MP is falling in the second stage, at the precise TP peak its value is not just falling but equal to zero.
Zero option is correct.
Arrange the following in descending order according to the extent of expenditure of Union Government in Budget 2023-24.
(i) Central Sector Schemes
(ii) Interest Payments
(iii) States' share of taxes and duties
(iv) Centrally sponsored schemes
What is the point elasticity when price is 12 rupees for the demand function P = 60 – 3q.
Match the following:
| List I | List II |
|---|---|
| (a) 12th Finance Commission | (i) Dr. Vijay Kelkar |
| (b) 13th Finance Commission | (ii) Dr. C. Rangarajan |
| (c) 14th Finance Commission | (iii) N. K. Singh |
| (d) 15th Finance Commission | (iv) Y. V. Reddy |
Codes : (a) (b) (c) (d)
Why does a firm under perfect competition continue to operate in the long run despite earning only normal/zero profits ?
When the Total Product (TP) is maximum, the Average Product (AP) is _____ and the Marginal Product (MP) is _____ .
What is the short run supply curve of a firm in a perfectly competitive market ?
According to Bergson-Samuelson social welfare function approach, social welfare is maximized when _____ .
In Chamberlin’s alternative approach, why does the excess capacity of a monopolistically competitive firm emerge ?
Which of the following term is more important in welfare economics and in designing government policy ?
To maintain price leadership, a dominant firm must ensure that _____ .
.................... is a client server application that identifies each host on the internet with a unique user-friendly name.
Every OS has a ................ or .......... which primarily resides in the main memory of the computer to perform some of the basic functions of the OS.
(i) Kernel
(ii) Interface
(iii) Nucleus
(iv) Compiler
Codes:
Which of the following are referred to as low level language?
(i) Machine language
(ii) Assembly language
(iii) High level language
(iv) Natural language
Codes:
Match the following:
| List I | List II |
| (a) New York Public Library | (i) Shelv AR |
| (b) Miami University Augmented Research Group | (ii) Smart library |
| (c) Oula University Library | (iii) Wolf Walk |
| (d) North Carolina State University | (iv) Find the future |
Codes:
Which part of the QR code represents the encoded data?