In the case of a short-run total product curve with a standard shape, the derivative of Q with respect to L is positive until total product reaches a maximum. From the origin until the total product curve reaches a maximum, what is true of the second derivative?

Question

Business

Azaria

13 January, 16:21

In the case of a short-run total product curve with a standard shape, the derivative of Q with respect to L is positive until total product reaches a maximum. From the origin until the total product curve reaches a maximum, what is true of the second derivative?

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Answers (2)

Know the Answer?

Elena Marks · Answer 1

It is negative.

Explanation:

When a function is maximized its second derivative is negative.

Annalise Beard · Answer 2

The second derivative is negative

Explanation:

The second derivative in a case of a short-run total product curve with a standard shape will be negative since the initial curve/function is maximized.

A short-run total product curve which is also known as the total product curve represents the total amount of products a firm can produce at a given time using a given amount of labor i. e labor is held constant while other inputs like technology and methodology are considered inputs.