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If the marginal product is greater than zero and is increasing, then

Answer:

Marginal Product

Marginal product is a measure of the change in output a firm can produce by utilizing an additional unit of input. If the marginal product of a given input is greater than zero and is increasing, this indicates that the firm is able to increase its output by utilizing more of the input.

Reasons for Increasing Marginal Product

The marginal product of a given input can increase for a variety of reasons. One reason is that the firm may have access to more efficient technology or production methods that allow for more output with the same amount of input. Additionally, the firm may have access to a larger quantity of the input, allowing for more output with the same technology or methods.

Implications for Marginal Product

When the marginal product of a given input is higher than zero and increasing, this indicates that the firm is able to increase its output by utilizing additional inputs. This can lead to increased profits for the firm, as it is able to produce more output with the same amount of inputs. Additionally, it can provide the firm with the ability to expand its production and increase its market share.

Limitations of Marginal Product

It is important to keep in mind that the marginal product of an input is not necessarily indicative of a firm’s profitability. The marginal product of a given input may be increasing, but if the firm is unable to make a profit due to other factors, such as the cost of the input or the cost of other inputs, then the firm will not be able to make a profit.

Related Questions

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