The marginal product of a variable input is
A)zero at the point of diminishing returns.
B)the change in the average product that occurs when the variable input is increased one unit.
C)the change in the total product that occurs in response to a unit change in the variable input.
D)the second derivative of the total product function.

Question

Quizplus · Accepted Answer

The marginal product of a variable input is the change in the total product that occurs in response to a unit change in the variable input. It is the additional output that is produced when one more unit of input is added, and it helps in determining the optimal input level for a firm to maximize its profits.

The Marginal Product of a Variable Input Is