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TOTAL PRODUCT AND AVERAGE PRODUCT: A graphical connection between total product curve and average product curve stating that the slope of a line between the origin and any point on the total product curve is equal to the average product. Imagine a ray shooting out of the origin and hitting the total product curve. As this ray hits each point on the curve, remaining anchored at the origin, the slope of the ray changes. And the slope of this ray is average product.
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MARGINAL PHYSICAL PRODUCT The change in the quantity of total physical product resulting from a unit change in a variable input, keeping all other inputs unchanged. Marginal physical product, usually abbreviated MPP, is found by dividing the change in total physical product by the change in the variable input. Marginal physical product, which more often goes by the name marginal product (MP), is one of two measures derived from total physical product. The other is average physical product.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for jovial bank tellers.
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This isn't me! What am I?
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The average length of a "business lunch" is about 36 minutes.
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"Lead the life that will make you kindly and friendly to everyone about you, and you will be surprised what a happy life you will lead." -- Charles M. Schwab
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ECU
European Currency Unit
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