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Marginal Product
The extra output, or increase in production, that results from adding one more unit of a specific input, while other inputs are kept constant.
Total Product
The total quantity of output produced by a firm over a given period of time.
Average Product
The output per unit of a particular input, calculated by dividing total output by the quantity of inputs.
Labor
Human effort, either physical or mental, used in the production of goods and services.
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