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Question

___________ is the change in Total Product, for one unit change in the quantity of Variable Factor.

A
Total Product
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B
Average Product
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C
Marginal Product
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D
All of the above
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Solution

The correct option is C Marginal Product

Marginal product refers to the change in production level or additional production which a firm produces for a unit change in the quantity of variable factor. It is the change in total production of the firm.


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