Total Product, Marginal Product, and Average Product

The previous reading introduced several new concepts. Watch this video on total, average, and marginal products and the law of diminishing marginal returns to labor to ensure a solid understanding of these essential economic ideas and relationships.

 

Source: Khan Academy, https://www.youtube.com/watch?v=8fm9FjDV0iA
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Last modified: Thursday, August 1, 2024, 1:24 PM