Economics · Production Function & Laws of Returns
When does the first stage of production end in the law of variable proportions?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1When marginal product of the variable factor is zero
- 2When marginal product of the variable factor is maximum
- 3When average product of the variable factor is maximum✓
- 4When total product of the variable factor is maximum
Correct answer
When average product of the variable factor is maximum
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