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Product of sequences. The product operator for the product of a sequence is denoted by the capital Greek letter Pi â (in analogy to the use of the capital Sigma â as summation symbol). The product of a sequence consisting of only one number is just that number itself.
The average product of labor is the total product of labor divided by the number of units of labor employed, or Q/L. The average product of labor is a common measure of labor productivity. The APL curve is shaped like an inverted âuâ. At low production levels the APL tends to increase as additional labor is added.