Question

What is relationshil between elasticity of production and mp ap?

Answer 1

hey mate here is ur ans.



Elasticity of output (or production) is defined as the ratio of proportionate change in output to the proportionate change in a variable input.

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Answer 2

Heya...

Elasticity of production means the changes in the production level due to change in variable factors...

This elasticity gives the variation of marginal product...

* Greater the elasticity of production leads to rise in MP...

* Lessee the elasticity of production leads to diminish in MP...

* Zero degree of elasticity of production leads to zero or negative MP...

And AP can be format by MP...

* MP > AP then Ap is rising...

* MP < AP , then AP is falling ...

* MP = AP , then AP is maximum...

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