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» Solution :The LAW 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. The total product initially increases at an INCREASING rate, then increases but at a diminishing rate and ultimately starts falling as more and more UNITS of a variable factor are employed.