ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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positive.
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zero.
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negative.
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maximum.
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Detailed explanation-1: -Total product is at its maximum if and only if marginal product is zero. When average product is equal to marginal product, average product is at its maximum.
Detailed explanation-2: -If marginal product is zero, total product is at a maximum. Marginal product (MP) is the increment in total output (TP) brought by the use of one more unit of a variable factor, with other factors remaining constant.
Detailed explanation-3: -Diminishing returns occur when the marginal product of the variable input is negative. That is when a unit increase in the variable input causes total product to fall. At the point that diminishing returns begin the MPL is zero.
Detailed explanation-4: -When a total product is at a maximum, marginal product is equal to zero.
Detailed explanation-5: -Thisgiveends the Total product curve a concave shape after the point of inflexion. This continues until the Total product curve reaches its maximum. When the MP is declining and negative, the Total Product declines. When the MP becomes zero, Total Product reaches its maximum.