The marginal product of a variable input is calculated as:
A)the change in total product divided by the change in output.
B)total product divided by the change in the variable input.
C)the change in total product divided by the change in the variable input.
D)total product divided by the total quantity of the variable input.

Question

Quizplus · Accepted Answer

The marginal product of a variable input is calculated as the change in total product divided by the change in the variable input. This means that if we increase or decrease the variable input (e.g. labor), we can calculate how much this changes the total output (e.g. quantity of goods produced) by dividing the change in output by the change in the variable input.

The Marginal Product of a Variable Input Is Calculated As