wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

The change in the total product resulting from a change in a variable input is __________.

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

The correct option is D marginal product
Marginal product is defined as the change in total product due to a change in variable input as in the short run, fixed costs do not change with the level of production. Thus the only extra cost incurred will have to arise solely from variable inputs.
ΔTPΔVariableinput(Labour)=MP

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Efficiency of machines
PHYSICS
Watch in App
Join BYJU'S Learning Program
CrossIcon