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Total product is the sum of all marginal products.

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14y ago

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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 happens to the marginal product when the total product is increasing but at a decreasing rate?

When the total product is increasing but at a decreasing rate, the marginal product will also decrease.


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.


What is the difference between the marginal product and average product in terms of their impact on production efficiency?

The marginal product measures the change in output when one more unit of input is added, while the average product measures the total output divided by the total input. The marginal product is important for determining the efficiency of production at the margin, while the average product gives an overall picture of efficiency.


When total product is maximized marginal product is?

mp = 0


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

Zero


When total product remains constant the marginal product will be?

Zero


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.


What is the relationship between marginal cost and total cost in the production process?

Marginal cost is the additional cost incurred by producing one more unit of a good or service. It is calculated by dividing the change in total cost by the change in quantity produced. Total cost, on the other hand, is the sum of all costs incurred in producing a certain quantity of goods or services. The relationship between marginal cost and total cost is that marginal cost affects the total cost by showing how much the cost increases when producing additional units. When marginal cost is less than average total cost, total cost decreases. When marginal cost is greater than average total cost, total cost increases.


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.