total physical product
total physical productthe total quantity of OUTPUT produced in the SHORT RUN by utilizing various amounts of the VARIABLE FACTOR INPUT (in conjunction with a given amount of FIXED FACTOR INPUT). The total physical product curve, as shown in Fig. 186, rises steeply at first, reflecting increasing RETURNS TO THE VARIABLE FACTOR INPUT but then rises more slowly as diminishing returns to the variable input set in.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005