The marginal product of an input is defined as:
A) the change in output.
B) the change in output divided by the change in input.
C) the change in input.
D) the total output divided by the total inputs.
E) the cost of the input.

Question

Quizplus · Accepted Answer

The marginal product of an input is defined as the change in output divided by the change in input. This measures the additional output generated by adding one more unit of input, and is an important concept in the theory of production and cost analysis.

The Marginal Product of an Input Is Defined As