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Per unit production of the variable factor is called
Total product
Average product
Marginal product
None of these
- Total Product: Refers to the total output produced by the firm from employing a given quantity of inputs. It shows the overall production level.
- Average Product: Represents the output produced per unit of a variable factor. It is calculated by dividing total product by the quantity of the variable factor used. It shows efficiency of input use.
- Marginal Product: Refers to the additional output generated by employing an extra unit of a variable factor, keeping other inputs constant. It informs about the contribution of each additional unit of input to total output.
- None of these: This applies if none of the given options correctly describe the term in question.
The per unit production of the variable factor is indeed called the Average Product.
By: santosh ProfileResourcesReport error
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