What is a Total Product (TP)?

Somtochukwu

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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