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Question
What Is a Marginal Product With an Example?
What Is a Marginal Product With an Example?
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Solution
Marginal Product: Marginal product is referred to as the change in output seen with per unit change of an input while keeping all other factors of input constant.
Example: Labour, materials etc.
Also read:
- Total Product Average Product and Marginal Product
- Meaning of Demand and Factors Affecting Demand
- Law of Variable Proportion
- The Law of Diminishing Marginal Product and the Law of Variable Proportions
Stay connected with BYJU’S for more such questions and answers on various commerce topics.
Marginal Product: Marginal product is referred to as the change in output seen with per unit change of an input while keeping all other factors of input constant.
Example: Labour, materials etc.
Also read:
- Total Product Average Product and Marginal Product
- Meaning of Demand and Factors Affecting Demand
- Law of Variable Proportion
- The Law of Diminishing Marginal Product and the Law of Variable Proportions
Stay connected with BYJU’S for more such questions and answers on various commerce topics.
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