Download App

Production and cost — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsProduction and cost1 Mark
Question
Comment on the following statement: “When average product and marginal product are equal, marginal product is at its maximum.”
✓

Answer

The statement is false because if average product is equal to marginal product, average product is at it maximum.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from Production and cost→Production and cost — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

What is the relation between marginal cost and average cost when average cost is constant?
→
Define price elasticity of demand.
→
What will you say about MU when TU is maximum and constant?
→
What is meant by equilibrium output of a producer?
→
Define budget set.
→
Define perfect competition.
→
What will happen to equilibrium price, when demand is perfectly elastic and supply increases?
→
When is the supply of a commodity called ‘elastic’?
→
How will an increase in the price of tea affects the demand for sugar?
→
Give the meaning of excess supply of a product.
→