Total physical product shows what happens to the quantity of an output when the firm changes the quantity of an input.
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Q7: In the short run the firm has
Q8: Marginal revenue product equals the marginal physical
Q9: The "law" of diminishing returns asserts that
Q15: Average physical product measures the output per
Q17: The long run is a period long
Q18: The short run is that period during
Q19: In most businesses, there is only one
Q20: Total physical product is maximized if marginal
Q28: When marginal revenue product of an input
Q33: If MRP > P, a firm should
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