Explain the relationship between Total Product, Average Product and Marginal Product.

Explanation

(i) In the beginning Total Product, Average Product and Marginal Product all increase, but Marginal Product `gt` Average Product and Total Product `gt` Marginal Product.
(ii) When Marginal Product = 0, Total Product is maximum and constant and Average Product is decreasing.
(iii) Thereafter, both Average Product and Marginal Product continue to decline, but Marginal Product `lt` Average Product and Total Product declines at an absolute term.
(iv) Marginal Product can be zero and negative but Average Product and Total Product can never be zero.