Marginal product is
A)the change in total output attributable to the employment of one more worker.
B)the change in total revenue attributable to the employment of one more worker.
C)the change in total cost attributable to the employment of one more worker.
D)total product divided by the number of workers employed.

Question

Quizplus · Accepted Answer

Marginal product refers to the additional output generated by employing one more unit of a factor of production, typically labor. It is calculated as the change in total output (or product) resulting from a one-unit increase in the labor input, holding all other inputs constant. Choices B and C describe marginal revenue and marginal cost, respectively, while D describes average product.

Marginal Product Is