Question

25. Define App and Mpp?
26. What are the relation between Tpp and Mpp

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Answer 1

✅ $\bold\red{Marginal\:Physical\:Product}$✅

• The MPP is the amount of physical product that will be produced with the addition of one unit of a factor, other factors being given.

• The MPP of the factor when seven units are employed is -2. Obviously, no factor will ever be employed in this region, and this holds true whether the factor-owner is also owner of the product, or a capitalist hires the factor to work on the product.

• It would be senseless and contrary to the principles of human action to expend either effort or money on added factors only to have the quantity of the total product decline.

✅ $\bold\purple{Average\:Physical\:Product}$✅

• The APP is the ratio of the total product to the total quantity of the variable factor, other factors being given.

• When the APP is rising (with the exception of the very first step where T P, APP, and MPP are all equal) MPP is higher than APP.

(2) When the APP is falling, MPP is lower than APP.

(3) At the point of maximum APP, MPP is equal to APP. We shall now prove, algebraically, that these three laws always hold.

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Answer 2

Answer

Marginal Physical Product

ProductThe MPP is the amount of physical product that will be produced with the addition of one unit of a factor, other factors being given.

ProductThe MPP is the amount of physical product that will be produced with the addition of one unit of a factor, other factors being given. The MPP of the factor when seven units are employed is -2. Obviously, no factor will ever be employed in this region, and this holds true whether the factor-owner is also owner of the product, or a capitalist hires the factor to work on the product.

ProductThe MPP is the amount of physical product that will be produced with the addition of one unit of a factor, other factors being given. The MPP of the factor when seven units are employed is -2. Obviously, no factor will ever be employed in this region, and this holds true whether the factor-owner is also owner of the product, or a capitalist hires the factor to work on the product. It would be senseless and contrary to the principles of human action to expend either effort or money on added factors only to have the quantity of the total product decline.

Average Physical Product

The APP is the ratio of the total product to the total quantity of the variable factor, other factors being given.

The APP is the ratio of the total product to the total quantity of the variable factor, other factors being given. When the APP is rising (with the exception of the very first step where T P, APP, and MPP are all equal) MPP is higher than AP

When the APP is falling, MPP is lower than APP.

APWhen the APP is falling, MPP is lower than APP. At the point of maximum APP, MPP is equal to APP. We shall now prove, algebraically, that these three laws always hold.