The change in total output attributable to the last unit of an input is the:
A)Total product.
B)Average product.
C)Marginal product.
D)Marginal return.

Question

Quizplus · Accepted Answer

The change in total output attributable to the last unit of an input is known as marginal product. It refers to the increase in output that results from adding one more unit of input, while holding all other inputs constant. The marginal product is important in determining the optimal level of inputs to use in order to maximize production and minimize costs.

The Change in Total Output Attributable to the Last Unit