Examlex
Why would you compare or not compare Coca-Cola and Pepsi-Cola (PepsiCo) as companies to each other?
Total Product
Total product refers to the total quantity of output produced by a firm within a given period as a result of inputs like labor and capital.
Average Product
The output per unit of input, calculated by dividing total product by the number of units of input.
Marginal Product
is the additional output that results from using one more unit of a particular input, holding other inputs constant.
Average Product
The output produced per unit of input, calculated by dividing total output by the number of units of input.
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