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Causes of Diminishing Returns to a Factor

Marginal prod...

Question

Marginal product is _______________.

A

what is produced when all factors of production are employed at optimum efficiency

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B

the extra output obtained from employing an additional unit of the factor

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C

what is left to the entrepreneur after he has paid all his expenses

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D

annual output of the most efficient prodcuer in the industry

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Solution

The correct option is B the extra output obtained from employing an additional unit of the factor
Marginal product is the extra (additional) output obtained from an additional unit of the variable factor.

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Causes of Diminishing Returns to a Factor

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