Concept of total product, marginal product and average product

The concept of total product, marginal product and average product is very important in economics. Let us discuss them one by one:

TOTAL PRODUCT (TP): It is the sum total of output produced by all the units of variable factor along with the fixed factors of production.

TP=50+70+80+80+60=340 UNITS OF A COMMODITY (Refer below table)

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