Average Product (AP) of a Factor:

The productivity of a factor is often seen in terms of its average contribution. Although not very important in the theoretical discussions, where analytical insight is tried to be drawn from marginal productivities, average productivity finds a platform in empirical evaluations. Deriving it from the total product is relatively easy. It is the output per unit of a factor.   

Posted Date: 10/26/2012 6:08:15 AM | Location : United States

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