Question

plz answer - class 11

Compare the TP, AP, MP under returns to factor in the form of production schedule​

Answer 1

Answer:

The Production Function: Total Product (TP), Average Product (AP), and Marginal Product (MP)

NOTICE:

The marginal is the slope of the total.

The slope of the TP curve gets bigger (steeper) at first then it gets smaller and smaller (less steep) as the quantity of the resources increases. At the same time MU at first goes up then gets less and less. At its peak the slope of the TP curve is zero and at this quantity MP is zero (it crosses the X axis). MP is at its highest when TP is at its steepest point.

MP crosses AP when AP is at its peak. Another way of saying this is when MP is above AP, then AP is increasing. When MP is below AP then AP is decreasing.