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What is the average product of an input?
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Average product is definite as the output per unit of factor inputs or the average of the total product per unit of input and can be considered by dividing the Total Product by the inputs (variable factors). Algebraically, it is explained as the ratio of the total product by units of labour employed to construct the output, i.e.

AP=TP/L

Where,

TP= Total product

L = units of labour employed
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