Function of Information Retrieval Function of Information Retrieval Function of Information Retrieval
Architecture needs mechanisms that allow it to become connected to culture. It achieves this by continually capturing the forces that shape society as material to work with. Architecture's m…Full description
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Architecture needs mechanisms that allow it to become connected to culture. It achieves this by continually capturing the forces that shape society as material to work with. Architecture's m…Full description
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Three zone of production function Zone I Starts from origin and ends at point where APP = MPP and APP is at maximum. MPP > APP throughout this region. MPP increasing up to point of inflation and then declines APP is increasing throughout this region TPP is increasing at increasing rate up to point of inflation and increases at decreasing rate after this MVP > MIC M > MC !P > " and at end of this #one !p=" Called as irrational #one $ Su% optimal&
Zone II Starts from point where MPP = APP and ends at point 'here MPP = ( and TPP is maximum MPP ) APP throughout this region App is decreases throughout this region TPP is increasing at decreasing rate MVP = MIC M = MC !p=" at %eginning and !p=( at end Called as rational #one *ptimum point must %e somewhere in this rational #one. It can+ howe,er+ %e located onl- when input and output prices are nown. Optimum level of input MVP = Px
Optimum level of output M = MC
Zone III Starts from MPP = ( i.e. TPP maximum MPP %ecomes negati,e ie MPP ) ( APP declining %ut still positi,e TPP is also decreasing at faster rate MVP ) MIC M) MC !p ) ( Called irrational or supra optimal #one Producer should ne,er operate in this #one e,en if the resources are a,aila%le at free of cost. In case if a farmer operates in this #one+ he will incur dou%le loss i.e. ". educed Production /. 0nnecessar- additional Cost of inputs.
Relationship between TPP, APP and MPP A) Relationship between TPP and MPP
'hen TPP increasing MPP is positi,e+ TPP constant when MPP is constant+ when TPP is maximum MPP is #ero+ and when TPP declines MPP %ecomes negati,e As long as MPP is increasing+ TPP increasing at increasing rate TPP goes at an increasing rate till point of maximum MPP After point of inflation As MPP declines the TPP increases at a decreasing rate 'hen MPP %ecomes #ero+ TPP attains its maximum 1egati,e MPP results in decreasing TPP TPP Increases decreases Maximum MPP Increasing Maximum 2ecreases 3ero
MPP Positi,e 1egati,e #ero TPP Increases at increasing rate At point of inflection Increases at increasing rate Maximum TPP
Constant
TPP increasing at increasing rate
) Relationship between APP and MPP 'hen Marginal Product is more than A,erage Product+ A,erage Product increases. 'hen Marginal Product is e4ual with the A,erage Product+ A,erage Product is Maximum. 'hen Marginal Product is less than A,erage Product+ A,erage Product 2ecrease
AP > MP AP = MP AP ) MP
APP increasing APP is maximum APP is decreasing
!etermination of optimum level of input MVP = MIC+ *ptimum le,el of input is at point where MVP > MIC+ profit is increasing with additional unit of input use+ increase input use MVP ) MIC+ profit is decreasing with additional unit of input use+ cut off input use
"raphicall#
Mathematicall#
!etermination of optimum level of output M=MC+ profit maximi#ing le,el of output M > MC+ profit is increasing with additional unit of output thus increase production M) MC+ profit is decreasing with additional unit of output thus cut off production "raphicall#
