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in Concept of Production by (56.2k points)

What are the steps of calculating total output product (TP)?

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Total output product can be calculated from the following steps:

  1. By summation of output of different units of factors.
  2. By multiplying average product with units of factors of production.
  3. TP = ∑MP.
  4. Or TP = APx units of factors of production.

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