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The optimal mix of output may not be produced by an economy because of the existence of
Marginal Product
The additional output produced when one additional unit of an input is employed, with all other factors remaining constant.
Total Product
The total output of goods and services produced by a firm during a specific period.
Total Product
The overall quantity of output produced by a firm during a given period of time.
Marginal Product
The additional output that can be produced by adding one more unit of a specific input, while keeping other inputs constant.
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