Evaluation:
Published: 08.01.2005.
Language: English
Level: Secondary school
Literature: n/a
References: Not used
  • Essays 'Total Product, Average Product and Marginal Product', 1.
Extract

To conclusion, total product and total product curve show you how many input(labor) will reach the firm's production capacity and keep those worthless input(labor) out from the firm except the firm wants to speed up their produce and reduce the amount of their produce. Average product and average product curve show you whether the labor productivity is efficiency or inefficiency in order to change your amount of your input(labor) if there is an inefficiency circumstance. Marginal product and marginal product curve show you whether one more extra input is efficiency or inefficiency in order to make decisions about change the firm's input(labor) if there is required. So therefore, proved that as I said in the beginning, these three terms are the foundation information and methods of the short-run analysis of a firm.…

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