Question
The ________ Â of an input in the production process is
the additional output that is generated by using one more unit of that input, while keeping all other inputs constant.ÂSolution
Marginal Product (MP) measures the change in output (production) that results from employing one additional unit of a variable factor of production while keeping other factors constant. It represents the additional output produced by adding one more unit of input.
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I. F stan...
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