What is a Total Product (TP)?
Total Product (TP) refers to the total quantity of goods produced at a particular time as a result of the use of all the factors of product.
Total product depends mainly on the quantity of all the factors of production that are applied in production;
TP = AP (Average Product) x Labour
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Somtochukwu
Visionary Leader and Development Economist in Nigeria. CEO at Bufiredd Economic Consults Ltd
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