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Supply Curve

Define margin...

Question

Define marginal product ?

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Solution

Marginal product refers to the change in the total output by employing one additional unit of labour.
Algebraically, $m a r g i n a l p r o d u c t = \frac{c h a n g e i n t o t a l p r o d u c t}{c h a n g e i n l a b o u r u n i t s}$

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