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AP Microeconomics
Unit 3 – Production, Cost, and the Perfect Competition Model
Topic 3.1
Unit 3 – Production, Cost, and the Perfect Competition Model
3.1 The Production Function
mixed difficulty
What is marginal product?
The process of scaling inputs and production.
The additional output from adding one more input.
The measure of how much a firm produces.
Total product divided by the number of inputs.
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AP Microeconomics - 3.1 The Production Function
Key terms
Marginal Product
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