Download App

Production and cost — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsProduction and cost2 Marks
Question
What is the marginal product of an input?
✓

Answer

MP is the addition (or change) in total product resulting from employment of an additional unit of a variable factor. Symbolically, MP = TPn - TPn-1.

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 "2 Marks Question" from Production and cost→Production and cost — all question types→Economics STD 12 Humanities & Commerce question papers→Rajasthan Board STD 12 Humanities & Commerce question papers→Rajasthan Board question paper generator→

Similar questions

When is demand elastic?
→
What do you mean by price floor?
→
Explain the effect of increase in income of the consumer on the demand for a good.
→
Explain the main features of barriers to the entry of firms.​​​​​​​
→
What do you understand by the term “slope of the demand curve'?
→
Explain the impact of rise in exchange rate on national income.
→
What is revenue of a firm? Give meaning of average revenue and marginal revenue. What happens to average revenue when marginal revenue is:
  1. Greater than average revenue.
  2. Equal to average revenue.
  3. Less than average revenue?
→
What are the main precautions required to be taken in estimating national income by the value added method?
→
Explain the law of diminishing marginal utility with the help of a utility schedule.
→
State the meaning and components of money supply.
→