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The law of diminishing marginal product
Lesson 25 of 55 • 13 upvotes • 12:10mins
Awdhesh Singh
In this lesson we learn about the relationship between average product and marginal product and also how the margin products declines aur diminishes as the input increases
Introductory Microeconomics NCERT Class 12th: UPSC CSE
55 lessons • 11h 11m
1
Introduction of the Course
3:00mins
2
Production and allocation of Resources
12:06mins
3
Central problem of Economy
12:30mins
4
Organisation of Economic Activities
13:02mins
5
Microeconomics and Macroeconomics
12:51mins
6
Cardinal utility analysis
12:07mins
7
Law of diminishing marginal utility
12:09mins
8
Ordinal utility analysis and indifference curve
12:11mins
9
Features of indifference curve
12:06mins
10
The consumer's budget
12:01mins
11
Price ratio and the slope of budget line
12:30mins
12
Optimal choice of consumer
12:11mins
13
Demand
12:09mins
14
Law of demand
12:35mins
15
Shift in demand curve
12:12mins
16
Market demand
12:12mins
17
Elasticity of demand
12:18mins
18
Elasticity demand curve
12:42mins
19
Relationship between elasticity and demand
12:14mins
20
Relationship between elasticity and expenditure
12:26mins
21
Production function
12:05mins
22
Isoquant
12:18mins
23
The short run and the long run
12:13mins
24
Total product, average product and marginal product
12:07mins
25
The law of diminishing marginal product
12:10mins
26
Return to scale
12:04mins
27
Various concepts of cost
12:17mins
28
Shapes of short run cost curves
12:24mins
29
Long run costs
12:12mins
30
Defining features in perfect competition
12:17mins
31
Revenue of a firm
12:13mins
32
Profit maximization -I
12:19mins
33
Profit maximization -II
12:32mins
34
Short run supply curve of a firm
12:02mins
35
Long run supply curve of a firm
12:18mins
36
Break even point and opportunity cost
12:21mins
37
Determinants of firms supply curve
12:21mins
38
Market supply curve
12:12mins
39
Price elasticity of supply
12:11mins
40
Market equilibrium
12:10mins
41
Market equilibrium for a fixed number of firms
12:08mins
42
Wage determination in labour market
12:53mins
43
Impact of shift in demand
12:35mins
44
Impact of shift in supply and demand
13:43mins
45
Market equilibrium: Free entry and exit
12:13mins
46
Shift in demand
12:27mins
47
Application of supply demand analysis
12:49mins
48
Non competitive markets
12:16mins
49
Price quality relationship in Monopoly firm
12:09mins
50
Zero cost Monopoly firm
12:28mins
51
Total average and marginal revenues
12:13mins
52
Equilibrium condition for a Monopoly firm
12:44mins
53
Comparison of monopoly firm with perfect competition
12:27mins
54
Equilibrium of a monopolistic competition
13:01mins
55
Behaviour of forms in oligopoly
12:31mins
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