explain the behaviour of TP and MP ,when for increasing production only one output is increased while all other are kept constant.
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(i) As long as MP is positive and increasing, TP increases at an increasing rate. (ii) When MP is positive but decreasing, TP increases at a diminishing rate. (iii) When MP = 0, TP is maximum and constant. (iv) When MP becomes negative, TP starts falling.
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(i) As long as MP is positive and increasing, TP increases at an increasing rate. (ii) When MP is positive but decreasing, TP increases at a diminishing rate. (iii) When MP = 0, TP is maximum and constant. (iv) When MP becomes negative, TP starts falling.
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