For a given production function: Y = 10 + 0.6X (Where Y is wheat output and X is fertilizer input), the coefficient 0.6 is called as:
(A). MPP
(B). Slope
(C). Elasticity of production
(D). APP
Choose the correct answer from the options given below:
For a given production function: Y = 10 + 0.6X (Where Y is wheat output and X is fertilizer input), the coefficient 0.6 is called as:
(A). MPP
(B). Slope
(C). Elasticity of production
(D). APP
Choose the correct answer from the options given below:
Show Hint
- (C) only.
- (D) only.
- (C) and (D) only.
- (A) and (B) only.
The Correct Option is D
Solution and Explanation
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