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Question
What is the total product of an input?
What is the total product of an input?
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Solution
Total product of an input is the sum total of output produced by all units of the input. It is also the sum total of the marginal product corresponding to each unit of the input.
Total product of an input is the sum total of output produced by all units of the input. It is also the sum total of the marginal product corresponding to each unit of the input.
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