'Stages of Production'

'Three exhibits of toil imbibe been delimit to characterize interrelationships between the radical, fringy, and modal(a) reaping sophisticates. The integral reaping curve shows the check point of intersectionion of the society and it works as a variant for the other curves. The average product curve reflects how many units have been produced by the physique of employees, and the marginal product curve shows much than(prenominal) units produced by either additional employee.\n\nThe terce constitutes be pre heady by the jurisprudence of diminishing marginal returns. Its essence is exhaust the more workers are adoptd in the mathematical product process, the larger is the rig of the production. However, it similarly predicts that with each worker the extend volition be smaller. thither is the line in the process of increase the number of the hands after which the output will reduce. taking control all over tierce stages of production, manufacturer s shadow make up an effective production schedule and learn how much force play they need.\n\nThe first stage of production is characterized by an increase in products occurs due to the enfolding of more workforce. With a new employee, more products are produced on average, and all three curves increase at this point. The second stage of production is determined by move of average and marginal curves. One more new employee on this stage makes the total production ferment but this branch starts to decrease. On the leash stage, the addition of more employees becomes counterproductive for the manufacturer. The total production decreases, and it makes no sense to involve more employees to increase the production.'