The Total Physical Product (TPP) initially increases at a decreasing rate and then increases at an increasing rate. T or F
Total Physical Product is the total quantity of output produced by a firmfor a given quantity of inputs. Total physical product is actually nothing more than total product. The insertion of the word "physical" merely keeps the phrase consistent with average physical product and marginal physical product, two terms useful in marginal-productivity theory and the analysis of factor demand.
The statement is false, because TTP initially increases at decreasing rate and then decreases.