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What is the m...

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What is the marginal product of an input?

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Solution

Marginal product of an input is the additional output as a result of a unit change in the input.

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What is the marginal product of an input?

Q. The Marginal Product of an input is__________________________.

State the behaviour of marginal product when only one input is increased and other inputs are held constant.

Or

Explain what you understand by the "law of diminishing marginal product".

Explain the relationship between the marginal products and the total product of an input.

Explain the relationship between the marginal products and the total product of an input.

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