Average product measures your productivity with a particular number of workers. To calculate the average product, you need the total product. For example, the total product for a factory might be the ...
Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation This paper sets out the key concepts necessary to calculate trade in value added using input-output tables. We explain the ...
Learn how the Marginal Rate of Technical Substitution (MRTS) allows firms to optimize production by substituting labor and ...
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