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How does total product behave with change in marginal product |
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Answer» Fixed costs\xa0are\xa0those that\xa0do\xa0notchange\xa0as the level of\xa0output changes. ... As\xa0production\xa0increases,\xa0totalvariable costs increase at a decreasing rate, since the\xa0marginal product\xa0for each additional worker\xa0is\xa0increasing. With diminishing\xa0marginal product, thetotal\xa0variable cost increases at an increasing rate. Fixed costs\xa0are\xa0those that\xa0do\xa0notchange\xa0as the level of\xa0output changes. ... As\xa0production\xa0increases,\xa0totalvariable costs increase at a decreasing rate, since the\xa0marginal product\xa0for each additional worker\xa0is\xa0increasing. With diminishing\xa0marginal product, thetotal\xa0variable cost increases at an increasing rate. How does total product behave with change in marginal product |
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