Give me the answer of question 4 fast
Dear Student,
A) True, under 'Law of Variable Proportion' the factor ratio between the fixed and variable factors keep on changing as more units of latter are applied.
B)True, when TP is maximum and constant, MP is 0 and AP is declining as AP=TP/Variable Output.
C) True, Production function of a firm is based on technique of production and hence establishes only a technical relation between inputs and outputs.
D)TP, AP & MP are inversed U-shaped curves.
E)False, in production function, time period changes with different time periods.
Regards
A) True, under 'Law of Variable Proportion' the factor ratio between the fixed and variable factors keep on changing as more units of latter are applied.
B)True, when TP is maximum and constant, MP is 0 and AP is declining as AP=TP/Variable Output.
C) True, Production function of a firm is based on technique of production and hence establishes only a technical relation between inputs and outputs.
D)TP, AP & MP are inversed U-shaped curves.
E)False, in production function, time period changes with different time periods.
Regards