Define Total Product, Average Product and Marginal Product.

1.	Define Total Product, Average Product and Marginal Product.
Answer» <html><body><p></p>Solution :Total product is the total <a href="https://interviewquestions.tuteehub.com/tag/amount-374803" style="font-weight:bold;" target="_blank" title="Click to know more about AMOUNT">AMOUNT</a> of output produced by employing a particular <a href="https://interviewquestions.tuteehub.com/tag/level-1072714" style="font-weight:bold;" target="_blank" title="Click to know more about LEVEL">LEVEL</a> of inputs.<br/>Average product is the output per unit of variable <a href="https://interviewquestions.tuteehub.com/tag/input-11237" style="font-weight:bold;" target="_blank" title="Click to know more about INPUT">INPUT</a>.<br/>Marginal product is the addition to total product when <a href="https://interviewquestions.tuteehub.com/tag/one-585732" style="font-weight:bold;" target="_blank" title="Click to know more about ONE">ONE</a> more unit of variable input is <a href="https://interviewquestions.tuteehub.com/tag/employed-2611124" style="font-weight:bold;" target="_blank" title="Click to know more about EMPLOYED">EMPLOYED</a>.</body></html>

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