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Concept of Production 1. Total product (TP) total physical product It is overall Production of all the factors of production. It is sun of marginal product TP / TPP = ∑MP or ∑MPP Or TP/TPP = AP * 1 2. Marginal product /[M.P]/Marginal Physical Product [MPP] It is additional production from use of additional units of variable factors. Means it is net change in TP. Due to use of one more additional unit of variable factor. MP = TPn - TPn-1 ...