What are the steps of calculating total output product (TP)? – InterviewSolution

1.

What are the steps of calculating total output product (TP)?

Answer»

Total output product can be calculated from the following steps:

By summation of output of different units of factors.
By multiplying average product with units of factors of production.
TP = ∑MP.
Or TP = AP_x units of factors of production.

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