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The relationship between marginal product (MP) and average product (AP) curves is fundamental in the study of the theory of production, which is a key area in microeconomics. Both concepts refer to the productivity of variable inputs, typically labor, in the short run when some factors are fixed. Marginal product refers to the additional output produced by employing one more unit of the variable input, holding all other inputs constant. Average product, on the other hand, ___ __________ _________ _____ __________.
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