Economic Definition of average physical product. Defined.
Offline Version: PDF
Term average physical product Definition: The quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average physical product, usually abbreviated APP, is found by dividing total physical product by the quantity of the variable input. Average physical product is actually just another name for average product (AP). But don't be confused by the extra term (physical).
« average fixed cost curve | average product »
Permalink: https://glossary.econguru.com/economic-term/average+physical+product