What are some issues between the total product and physical product?© BrainMass Inc. brainmass.com October 24, 2018, 10:40 pm ad1c9bdddf
The Four P's of Marketing or the Marketing Mix:
? Place (distribution)
The first P in the Marketing Mix is for Product. Let us define Product as used in the Marketing Mix:
Product - For many a product is simply the tangible, phsysical entity that they may be buying or selling.
- An object or a service that is mass produced or manufactured on a large scale with a specific volume of units. A typical example of a mass produced service is the hotel industry. A less obvious but ubiquitous mass produced service is a computer operating system. Typical examples of a mass produced objects are the motor car and the disposable ...
458 words; 4 p's of marketing mix; difference between total product and physical product and issues involved between the two
Production Function - Average and Marginal Product
The short run production function for a manufacturer of DVD drivers is as follows:
Input of Labor (workers per week) Total output of DVD drivers
Based on the information, calculate the averae physical product at each quantity of labor.
Using the information provided in the attachment calculate the marginal physical product of labor at each quantity of labor.
From the manufacturer of DVD drivers from part 1 and 2, at what point do diminshing marginal returns set in?