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5 October, 02:38

Explain the terms "marginal product" and "total product", and analyze and explain the relationship between the two

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  1. 5 October, 05:37
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    The law of variable proportions is used to explain the relationship between Total Product and Marginal Product ... When the Marginal Product (MP) increases, the Total Product is also increasing at an increasing rate. This gives the Total product curve a convex shape in the beginning as variable factor inputs increase.
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