APP is defined as:

Question

APP is defined as:

Quizplus · Accepted Answer

APP stands for Average Physical Product, which is a measure of the average productivity of a given input, such as labor or capital. It is typically calculated as the total output divided by the quantity of the input used to produce it (e.g. total output/total labor input). TPP (Total Physical Product) represents the total output produced. Therefore, the correct option is C) TPP/X, where X represents the input used to produce the output. The options A) and B) are incorrect because MPP (Marginal Physical Product) refers to the additional output added by using one more unit of the input. The option D) is incorrect because there is no concept of TPP/Y.

APP Is Defined As