CUET Preparation Today
Which of the following statement is correct? |
Average product of an input at any level of employment is the average of all average products up to that level. For any level of an input, the sum of average products of every preceeding unit of that input gives the total product. Marginal product of an input at any level of employment is the average of all marginal products up to that level. None of the above |
None of the above |
The correct answer is option 4: None of the above Option 1: Average product of an input at any level of employment is the average of all average products up to that level. This is incorrect. Average product of an input at any level of employment is the average of all marginal products up to that level. Option 2: For any level of an input, the sum of average products of every preceeding unit of that input gives the total product.This is incorrect. For any level of an input, the sum of marginal products of every preceeding unit of that input gives the total product. Option 3: Marginal product of an input at any level of employment is the average of all marginal products up to that level. This is false. Average product of an input at any level of employment is the average of all marginal products up to that level. |
