Explain the changes that take place in total product and marginal product under increasing/diminishingreturns to a factor.

Explain the changes that take place in total product and marginal prod

1.	Explain the changes that take place in total product and marginal product under increasing/diminishingreturns to a factor.
Answer» <html><body><p></p>Solution :The <a href="https://interviewquestions.tuteehub.com/tag/law-184" style="font-weight:bold;" target="_blank" title="Click to know more about LAW">LAW</a> of diminishing returns to a factor states that Marginal Product of a factor initially rises with its employment level, but after a certain level of employment it starts falling and ultimately becomes negative.<br/>The total product initially increases at an <a href="https://interviewquestions.tuteehub.com/tag/increasing-1040633" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASING">INCREASING</a> rate, then increases but at a diminishing rate and ultimately starts falling as more and more <a href="https://interviewquestions.tuteehub.com/tag/units-1438468" style="font-weight:bold;" target="_blank" title="Click to know more about UNITS">UNITS</a> of a variable factor are employed.</body></html>