Question

How Do I Calculate Marginal Product?

Answer 1

Marginal product can be calculated using the following formula:

Marginal Product = (Qn – Qn-1) / (Ln – Ln-1)

Where,

Qn = Total Production at time n

Qn-1 = Total Production at time n-1

Ln = Units at time n

Ln-1 = Units at time n-1

Also read:

• Total Product Average Product and Marginal Product
• Difference Between Total Utility and Marginal Utility
• Consumer Equilibrium Utility Analysis
• Difference Between Cardinal and Ordinal Utility Study Material

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