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According to the real business cycle theory, technological progress is responsible for fluctuations in output.
Total Product
The total amount of goods or services produced by a firm or an economy at a given level of resource utilization.
Marginal Product
The additional output generated by employing one more unit of a specific factor of production, holding all other factors constant.
Total Product
The total quantity of output or goods produced by a firm or company using a given quantity of inputs during a specific time period.
Marginal Product
The additional output generated by adding one more unit of a specific input, all other inputs being held constant.
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