Advertisements
Advertisements
Question
What is the total product of an input?
Short Answer
Advertisements
Solution
Total product is defined as the sum total of output produced by a firm by employing a particular input. It is also known as the Total Physical Product and is represented as `"TP" = sumQ_x` Where, ∑ represents summation of all outputs and Qx represents units of output x produced by an input.
shaalaa.com
Is there an error in this question or solution?
