Question

explain the likely behaviour of total product and marginal product when for increasing production only 1 input is increased while all other inputs are kept constant​

Answer 1

Explanation:

have 3 phases which is also called law of variable propotion

in 1st phase total product[TP] increases at an increasing rate and marginal product[MP] also increases

in 2nd phase TP increase at an diminishing rate and MP decreases but remains +ve

in 3rd phase ultimately TP falls and MP also falss that it becomes -ve

Answer 2

Answer:

Explanation:

Marginal product is the addition to total product when one more unit of variable factor is employed, keeping other factors constant.

The law of diminishing returns to a factor states that Marginal Product of a factor initially rises with its employment level, but after a certain level of employment it starts falling and ultimately becomes negative.

(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.