The change in output divided by the change in input is defined as
A) marginal product.
B) average product.
C) diminishing returns.
D) labor productivity.
E) profit per unit output.

Name: The change in output divided by the change in input is defined as A) marginal product. B) average product. C) diminishing returns. D) labor productivity. E) profit per unit output.
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Question

Quizplus · Accepted Answer

The marginal product is defined as the change in output resulting from a one-unit change in the input, holding all other inputs constant.

The Change in Output Divided by the Change in Input