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An ad campaign for a new snack chip will be conducted in a limited geographical area and can use TV time,radio time,and newspaper ads.Information about each medium is shown below. If the number of TV ads cannot exceed the number of radio ads by more than 4,and if the advertising budget is $10,000,develop the model that will maximize the number reached and achieve an exposure quality of at least 1000.
Marginal Product
The additional output that is produced by using one more unit of a variable input.
Average Product
This measures the productivity of inputs by dividing total production by the number of inputs, indicating the efficiency of input use.
Total Product
The total quantity of output produced by a firm or economy as a result of combining inputs of labor and capital over a specific time period.
Average Product
The output produced per unit of input used, calculated by dividing total output by the quantity of inputs.
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