The marginal product of capital is the
A)change in total product resulting from a 1-unit increase in the quantity of labour employed,holding the quantity of the capital constant.
B)change in total product resulting from a 1-unit increase in the quantity of capital employed,holding the quantity of the labour constant.
C)total product divided by the total quantity of capital employed,holding the quantity of the labour constant.
D)total product divided by the total quantity of labour employed,holding the quantity of the capital constant.
E)change in the quantity of capital used resulting from a 1-unit increase in total product,holding constant the quantity of labour.

Question

Quizplus · Accepted Answer

The definition of marginal product of capital is the change in total product resulting from a 1-unit increase in the quantity of capital employed, holding the quantity of labor constant. Therefore, option B is the correct choice. Option A defines the marginal product of labor, option C defines the average product of capital, and option D defines the average product of labor. Option E is not a relevant definition of marginal product of capital.

The Marginal Product of Capital Is the