What Is TP, MP and AP? (2024)

FAQs

What is TP, MP, and AP? ›

Total product TP is the total quantity of a commodity produced in a given period. Marginal product MP is additional quantity of the commodity produced by using an additional unit of a variable factor. Average product AP is the output per unit of the variable factor.

For any degree of an input, the sum of marginal products of every foregoing unit of that input gives the total product. So, the total product is the sum of marginal products.

TP stands for the Total product, MP stands for the Marginal Product and AP stands for the average product. Let's understand these briefly. Total Product: Total product is referred to as the relationship between the variable input and the output, when all other factors of input are constant.

Relationship between Total Product and Marginal Product

TP increases at an increasing rate when MP increases. This pattern provides a Total Product Curve with a shape of convex. It then continues till MP reaches the maximum point of TP. Where MP declines and stays positive, TP increases at a decreasing rate.

The related TP (Traffic Programme) flag is used to allow the user to find only those stations that regularly broadcast traffic bulletins, whereas the TA flag is used to stop the tape or raise the volume during a traffic bulletin.

toilet paper ( def ).

The maximum point of TP is when MP becomes zero. Also read: Meaning of Demand and Factors Affecting Demand. Law of Variable Proportion.

Total Product is calculated by adding up all the output created over a set period.

The relationship between AP and MP can be explained with the help of the following diagram:In the diagram: i The AP increases when MP is greater than AP. ii The AP is at its maximum when both MP and AP are equal. This is shown at point E. iii The AP decreases when MP ip less than AP.

When average product is maximum, marginal product = average product.

What are the shapes of TP MP and AP curves? ›

TP, MP, AP: Shape of the Curves

The TP curve first increases at an increasing rate, after which it continues to increase but at a decreasing rate, giving the curve an S-shape. This trend continues till TP reaches its maximum. Here, MP =0. After the maximum, TP starts to fall or it declines.

Answer. When AP is rising it is always less than MP and when it is falling it is always greater than MP. MP = AP when AP is at its max. The law of diminishing returns states that as a firm uses more of a variable input without changing the quantity of fixed inputs, the MP of the variable input will eventually decline.

Average Product refers to output per unit of a variable input. For example, if the total product is 30 kg of wheat produced by 5 labours(variable inputs), then the average product will be 30/5, i.e., 6 kg. AP is calculated by dividing TP by units of the variable factor.

When MP is zero, the value of TP is maximum. Also read: Total Product Average Product and Marginal Product. Meaning of Demand and Factors Affecting Demand.

When MP rises, TP rises at an increasing rate.

The TP segment is the portion of the ECG from the end of the T wave to the beginning of the P wave. This segment should always be at baseline and is used as a reference to determine whether the ST segment is elevated or depressed, as there are no specific disease conditions that elevate or depress the TP segment.

A PCB test point is a small wire loop used for test probes on a PCB that contains surface-mount parts. During production, they enable the user to inject test signals or monitor the board's circuitry. Test points come in a variety of materials, sizes and colors.