CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Suppose the first four units of a variable input generate corresponding total outputs of 150, 200, 350 and 550. The marginal product of the third unit of input is:

A
50
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
100
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
150
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
D
200
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is D 150
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.
Marginal product of 3rd unit = Total product of 3rd unit - Total product of 2nd unit
= 350 - 200
= 150.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Activity Ratios
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon