How is total product calculated?
1 point
(A) ∑AP
(B) ∑TP
(C) ∑MP
(D) Any of these.
Answers
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Answer:
answer is (B)
Explanation:
It is defined as the output per unit of factor inputs or the average of the total product per unit of input and can be calculated by dividing the Total Product by the inputs (variable factors).
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