Question

The marginal product of a variable input is best described as:(a) Total product divided by the number of units of variable input(b) The additional output resulting from a one unit increase in the variable input(c) The additional output resulting from a one unit increase in both the variable and fixed inputs(d) None of the above

Answer 1

c will be your answer

Answer 2

Answer:

The correct answer of this question is the additional output resulting from a one unit increase in both the variable and fixed inputs.

Explanation:

Given - The marginal product of a variable input is best described.

To Find - Choose the correct option.

The marginal product of a variable input is best described as the additional output resulting from a one unit increase in both the variable and fixed inputs.

The slope of the total product function at that point is the marginal product for any value of the variable input. The marginal product is the derivative of the total product function if the total product function is differentiable.

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