Marginal product refers to the change in output or production divided by the change in variable inputs (labor). the total output produced for a given level of variable input (such as labor). the quantity of output produced divided by the quantity of labor (number of workers).

Marginal product refers to the change in output or production divided by the change in variable inputs (labor). the total output produced for a given level of variable input (such as labor). the quantity of output produced divided by the quantity of labor (number of workers).

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 7P

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Marginal product refers to
the change in output or production divided by the change in variable inputs (labor).
the total output produced for a given level of variable input (such as labor).
the quantity of output produced divided by the quantity of labor (number of workers).

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