Question
When the total product rises at an increasing rate, the
Answer: Option C
Answer: (c)
The marginal product of an input (factor of production) is the extra output that can be produced by using one more unit of the input (for instance, the difference in output when a firm’s labour usage is increased from five to six units), assuming that the quantities of no other inputs to a production change.
Marginal product, which occasionally goes by the alias marginal physical product (MPP), is one of two measures derived from the total product. The other is an average product. Marginal product is directly proportional to total product.
Was this answer helpful ?
Answer: (c)
The marginal product of an input (factor of production) is the extra output that can be produced by using one more unit of the input (for instance, the difference in output when a firm’s labour usage is increased from five to six units), assuming that the quantities of no other inputs to a production change.
Marginal product, which occasionally goes by the alias marginal physical product (MPP), is one of two measures derived from the total product. The other is an average product. Marginal product is directly proportional to total product.
Was this answer helpful ?
More Questions on This Topic :
Question 3. The marginal revenue of a monopolist is:
....
Question 8. In Economics, production means
....
Question 10. Production function is the relationship between
....
Latest Videos
Latest Test Papers
Submit Solution