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Total product is the sum of all marginal products.

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Q: Relationship between total and marginal product?
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Related questions

Relationship between Tota Product Marginal Product and Average Product?

Average Product = (Total Product) / (Labor) Marginal Product(2) = (Total Product)(2) - (Total Product)(1)


When average product is highest Options Total product is maximum Marginal product is maximum Marginal product is zero Marginal product is negative?

Negative


What is total utilitymarginal utility d low of diminishing marginal utility and draw the thoeretical mathematical diagramatically relationship between total and marginal utility?

23w


What is the relationship between total average and marginal revenue under monopoly with the help of schedule and diagram?

Total average pertains to annual revenue. While marginal revenue is equivalent to quarterly profits. The relationship between the two is only that one is the dividend of the other.


Relationship between marginal cost and average total cost?

The cost curves best tells us the relationship between the marginal cost and average total cost. The average fixed cost (AFC) curve will decline as additional units are produced, and continue to decline.


When the total product remains constant the marginal product will be?

Zero


When total product remains constant the marginal product will be?

Zero


When total product is maximized marginal product is?

mp = 0


What is marginal output?

The change in total output, when one more input is added/deducted. If Total Product of current period 'n', then the Marginal Product [Marginal Output]= Tn - Tn-1. It is the marginal change in the total output when one unit of input say labour or capital is added.


Explain the relationship between total utility and marginal utility?

Total Utility can mean the total amount of satisfaction gained from the purchase or consumption of a product. Marginal Utility is the amount of satisfaction gained from purchasing or consuming more of the same product. For Example: If you purchased two slices of Pizza, Your total utility would be the satisfaction you receive from consuming both slices. Your marginal utility would be the satisfaction you gained consuming an additional slice (i.e. The difference between consuming two slices versus one slice) Typically your marginal utility decreases as your consumption increases. For Example: If you have eight pizzas, one extra slice is not likely to bring you as much satisfaction as a second slice would if you only had one slice of pizza (as opposed to eight pizzas).


What is total and marginal utility?

Total utility is the overall utility achieved by using any product while marginal utility is the increase/decrease in utility from use of one more unit of product.


What is the formula to find the marginal product?

Marginal product (MP) is the change in total product (TP) resulting from the use of one more (or less) unit of labour (L): MP = ΔTR/ΔL -Jay-