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Question : ________ of an input is defined as the change in output per unit of change in the input when all other inputs are held constant.

Option 1: Marginal product

Option 2: Production function

Option 3: Total product

Option 4: Average product


Team Careers360 8th Jan, 2024
Answer (1)
Team Careers360 18th Jan, 2024

Correct Answer: Marginal product


Solution : The correct answer is Marginal product .

It measures how many units of a particular input, such as labour or capital, contribute to total output or production in a certain period if all other factors remain static. The marginal product of an input may be used to calculate how much output a company can create by increasing the amount of that input. It may also be used to assess a company's ideal amount of output. An input's marginal product might alter with time.

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