{"id":43117,"date":"2024-04-15T21:24:53","date_gmt":"2024-04-15T21:24:53","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=43117"},"modified":"2024-04-15T21:24:53","modified_gmt":"2024-04-15T21:24:53","slug":"consider-the-following-statements-1-point-of-inflexion-exists-where-ist-stage-of-law-of-variable-proportions-ends-2-tp-increases-even-when-mp-is-decreasing-3-producer-will-stop-only-at-iind-stag","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-1-point-of-inflexion-exists-where-ist-stage-of-law-of-variable-proportions-ends-2-tp-increases-even-when-mp-is-decreasing-3-producer-will-stop-only-at-iind-stag\/","title":{"rendered":"Consider the following statements. 1. Point of inflexion exists where Ist stage of law of variable proportions ends. 2. TP increases even when MP is decreasing. 3. Producer will stop only at IInd stage of variable proportions. Which of the statement(s) given above is\/are correct?"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a9752b522b26\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    Both 1 and 2                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"true\">\r\n                    1, 2 and 3                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    Only 1                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    None of the above                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: Only 1.<\/p>\n<p>The point of inflexion exists where the first stage of the law of variable proportions ends. In the first stage, the total product increases at an increasing rate as more and more units of the variable input are added to a fixed amount of the fixed input. However, after a certain point, the total product starts to increase at a decreasing rate. This is because the law of diminishing returns has set in. The point at which the total product starts to increase at a decreasing rate is called the point of inflexion.<\/p>\n<p>The total product can increase even <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> when the marginal product is decreasing. This is because the total product is the sum of the marginal products of all the units of the variable input that have been used. So, even if the marginal product of each additional unit of the variable input is decreasing, the total product can still increase if the number of units of the variable input is large enough.<\/p>\n<p>The producer will not stop only at the second stage of variable proportions. The producer will continue to add units <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> of the variable input until the marginal product of the variable input is equal to the marginal cost of the variable input. This is because the producer wants to maximize profits, and the marginal product of the variable input is equal to the marginal cost of the variable input at the point of optimal output.<\/p>\n<p>Therefore, only statement 1 is correct.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Consider the following statements. 1. Point of inflexion exists where Ist stage of law of variable proportions ends. 2. TP increases even when MP is decreasing. 3. Producer will stop only at IInd stage of variable proportions. 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Point of inflexion exists where Ist stage of law of variable proportions ends. 2. TP increases even when MP is decreasing. 3. Producer will stop only at IInd stage of variable proportions. Which of the statement(s) given above is\/are correct?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/consider-the-following-statements-1-point-of-inflexion-exists-where-ist-stage-of-law-of-variable-proportions-ends-2-tp-increases-even-when-mp-is-decreasing-3-producer-will-stop-only-at-iind-stag\/","og_locale":"en_US","og_type":"article","og_title":"Consider the following statements. 1. Point of inflexion exists where Ist stage of law of variable proportions ends. 2. TP increases even when MP is decreasing. 3. Producer will stop only at IInd stage of variable proportions. 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