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Draw a diagram with marginal product and average productExplain the relationship between marginal product and average product

por Arlie Embry (2019-08-14)


Marginal product is any input in the production process is the increase in the quantity of output obtained from on additional unit of the input. Average product is the output produced when one more unit of the variable factor is employed

The relationship is state as:

If labour's marginal product is exceed its average product that means labour's average product will be rising.

Labour's average product will be falling. If labour's marginal product is less than its average product.

If labour's marginal product is equal its average product and the average product will reach the minimum value at the point.

Relationship between total product marginal product and average product?
Just remember that marginal always leads average. Whatever the marginal product does the average will always do the same soon after.

Relationship between marginal cost and average total cost?
The cost curves best tells us the relationship between the marginal cost and average total cost. The average fixed cost (AFC) curve will decline as additional units are produced, and continue to decline.

What is the relationship between total average and marginal revenue under monopoly with the help of schedule and diagram?
Total average pertains to annual revenue. While marginal revenue is equivalent to quarterly profits. The relationship between the two is only that one is the dividend of the other.

What is the relationship between marginal physical product MPP and marginal cost MC Provide an examples?
what is the relationship between marginal physical product and marginal cos

What is the relationship between Average variable cost Average fixed cost and marginal cost?
we can subtract the AVC and we will get the MC

Relationship between Tota Product Marginal Product and Average Product?
Average Product = (Total Product) / (Labor) Marginal Product(2) = (Total Product)(2) - (Total Product)(1)

What Relation between marginal cost and average cost?
relation ship between average cost and marginal cost

What is relationship between average product and marginal product?
Marginal product is equal to average product when average product is maximum Marginal product determines the behaviour of the Average product. AP rises, reaches maximum and thereafter falls. For all sections that the MP is greater than the AP, the AP rises and MP is below AP, the AP decreases. Marginal product reaches maximum at a lower level of employment than does the AP

Relationship between total and marginal product?
Total product is the sum of all marginal products.

Explain the relationship between total utility and marginal utility?
Marginal Utility is the derivative of Total Utility

What is the relationship between marginal cost and average cost curves?
Margianal cost curve crosses the average total cost curve at the lowest point on the average total cost curve to be socially and ecomonical efficient.

How does the relationship between marginal cost and marginal benefit impact producers?
It helps producers decide how much of a good to make.

Marginal product curve?
A marginal product curve is a visual presentation that demonstrates the relationship between the marginal product and the quantity of its input. All other inputs are fixed.

Marginal productivity of labour and the demand for labour .?
Graphically illustrate and explain the relationship between marginal productivity of labour and the demand for labour .

What is the difference between price and average cost?
marginal cost

Explain the relationship between average revenue and marginal revenue?
Average Revenue: Total revenue divided by the number of units sold. Marginal Revenue: Is the extra revenue that an additional unit of product will bring. It is the additional income from selling one more unit of a good; sometimes equal to price. It can also be described as the change in total revenue ÷ the change in the number of units sold. Relationship: They both are the revenue brought in by, in this case, units...

Relationship between marginal and average productivity?
Average and marginal productivity are analytical tools used to measure the output of labor in order to evaluate current production ability and improve future capacity. Average productivity is the total production involved in a process divided by the number of variable unit inputs employed. It is what each employee produces. Marginal productivity is the increase in the rate of output created by adding one more unit of the input while maintaining the same constant inputs.

Relationship between Marginal revenue and Demand curve?
marginal revenue always lies behind the demand curve,and when demand increases marginal revenue also increases.demand curve is used to determine price of a commodity.

What is the relationship between marginal utility curve and demand curve?
both are equal and complement to each other

What is the relationship between price elasticity of demand and the monopolist's revenue?
marginal revenue is negative where demand is inelastic

Discuss in details of productivity and labor welfare?
oWhat is the relationship between Marginal Productivity of Labour and Labour welfare

Relationship between marginal cost and variable cost?
Variable cost refers to the TOTAL variable cost of all units, whereas marginal cost is the variable cost of the last unit only. Variable cost is the sum of all the individual marginal costs. The derivative of the Variable Cost is the Marginal Cost. The integral of the Marginal cost is the Variable Cost.

What is the relationship between marginal utility and demand?
There is a close relationship between the marginal utility and price of a commodity.The additional satisfaction from the consumption of an additional unit of the commodity is called marginal utilty. Price means the value of the goods expressed in the terms of money.Price of all units of he same goods of consumption are more or less identical.It means that the consumer pays the same price for all the units of the same goods of consumption...

What is the difference between a marginal tax rate and an average tax rate?
The marginal tax rate is the tax on the last dollar (or whatever) earned. The average tax rate is the total tax divided by the total income. In most (though not necessarily all) tax systems, the average tax rate will be noticeably less than the marginal tax rate for most taxpayers.

What is marginal and average tax rate of 10 percent on income between 0 and 8025?
1 in a million

What is the relationship between marginal revenue and total revenue?
Marginal revenue is the change in total revenue with respect to the variable that's changing (usually quantity.) Using calculus, MR = d(TR)/dQ, where Q is quantity.

Why is marginal cost unaffected by lump sum tax?
Marginal cost is the cost to the firm of producing one more unit of output - it is affected by the same factors that affect variable costs. A lump sum tax does not affect this relationship whereas a tax on the marginal unit produced will; such as an ad valorem tax. If a lump sum tax is imposed on a producer this will NOT affect his profit maximising decisions as his output decisions are always...

What is the relationship between price and marginal revenue when a monopolist cuts the price to sell more?
Between them exist a simple line of difference, a monopolist can sale more with less money CHACHA!

What is the relationship between marginal product and average product?
1.when tp increases mp decreses. 2.when tp is at his highest point, 휴대폰결제현금화 mp is 0. 3.when tp decreses ,mp becomes negetive. and i have no idea what im talking abouT its dumb they should just give it to guys!

Distinguish between average propensity to consume and marginal propensity to consume?
average propensity to consume is the fraction of the total amount of disposable income that households spend on consumption whereas marginal propensity to consume is the amount that consumption increases for every additional dollar of disposable income.

What is the difference between average costs and marginal costs?
This is the economic distinction equivalent to fully absorbed cost of product and variable cost of product. Average cost is total cost divided by number of units. Marginal cost is the cost to produce the next unit (or the last unit

What is the relationship between marginal cost average total cost and average variable cost?
In the short run (which is what this question is about), as output increases, the average total cost decreases where the marginal cost is below it. First you have to realise that increasing and decreasing output will affect average fixed costs and average variable costs. Consider the following (explanation to these specific points is at the bottom of the page): Average fixed costs (AFC) decrease as output increases. A fall in average fixed costs leads...

What is the relationship between marginal product and marginal cost?
The marginal product curve is 'n' shaped because of the law of diminishing returns. As you add more units of a variable factor, at first, the marginal product rises, (this is because the fixed factor is under-utilised, so adding more units of the variable factor will increase the output from each additional unit). But after a certain point, the marginal product begins to fall, as the fixed factor input becomes diluted amongst workers and so...

Relationship between marginal cost and the supply curve for a purely competitive firm?
Marginal cost curve above the average variable cost curve, is the same as the short run supply curve. In perfect competition, MC=Price. It follows that production will be at that point. Hence the supply curve is the same as that part of the MC curve which is above AVC, where the firm can cover its variable cost....this is better than shutting down.

What is marginal profit?
In economics, marginal profit is the difference between the marginal revenue and the marginal cost of producing an additional unit of output.

What is the difference between equi-marginal utility and diminishing marginal utility?
What is the difference between equi-marginal utility and diminishing marginal utility? Read website

How could weistinguish between average propensity to consume from marginal propensity to consume?
The average propensity to consume is the fraction of total disposable income that households spend on consumption (as opposed to saving for example) whereas marginal propensity to consume is the additional consumption that results from an additional dollar of disposable income.

What is the relationship between long-run average cost curve and short-run average cost curve?
what is the relationship between long run average cost curve and short run average cost curve?

Functional relationships Total Average and Marginal?
A Functional Relationship of the form y=f(X1,X2 ....Xn) means there is systematic relationship between the dependent variable y and the independent variable X1,X2 ....Xn and there is unique value of y for any set of values of the independent variables. In many economic models, a special set of functional relationships called total, average, and marginal functions is used. such functions are involved in the theory of demand,cost,production and market structure. Extracted from : Managerial Economics...

Explain the relationship between marginal cost marginal revenue and profit?
Given that P=R-C where P is profit, R revenue and C cost, it follows that marginal profit dP/dQ = dR/dQ-dC/dQ where P,R and C are all functions of the output Q. Maximizing profit means setting dP/dQ = 0. Then dR/dQ = dC/dq where dR/dQ and dC/dq are marginal revenue and marginal cost respectively.

What is the relationship between indifference curve and budget constraint?
The tangency point of Indifference curve and budget line shows the Marginal Rate of Substitution between X and Y commodities. Consumer's equilibrium is achieved at that point.

What is the relationship between average product and average variable cost?
There is an inverse relationship between the two. The formula for showing this is AVC=1/APL. Using this formula you will be able to figure out each one.

What is the differences between standard cost and marginal cost?
The main difference between standard cost and marginal cost is that in standard cost a target is set and in marginal cost there is no target set. Marginal cost is the change of the total cost due to the quantity produced.

What is the difference between unit cost and cost per unit?
nit cost is the average cost of making a product and cost per unit is the marginal cost

From the marginal world by Rachel Carson. What is the marginal world?
the line between the sea and land

What kind of relationship you postulate between short-run and long run average cost curves when these are not U shaped?
The type of relationship that you postulate between short-run and long-run average cost curves that is not U shaped is the external limiting relationship.

What is the distinction between marginal revenue product and marginal revenue?
I'm thinking that marginal revenue product is the marginal revenue on one product, and marginal revenue is the marginal revenue on the whole firm sales... I'm wondering the same thing but the above response is incorrect. both terms imply values on one item as indicated by the "marginal"

What is the difference between the marginal product of labor and the marginal revenue product of labor?
moarginal product of labor

Relationship between fixed cost average cost and marginal cost with graph?
Your fixed cost is going to be lower than you average cost and marginal cost as it is what you have to pay no matter what. If your business has a fixed cost of $800 (renting the building, insurance, and other things that don't change month to month) per month you and utilities, pay roll, and inventory to that (all things that change month to month) and average the amount out over, lets just say...

Explain difference between total and marginal utility. Define UTILITY. How do consumers maximize UTILITY?
explain the difference between total utility and marginal utility

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