The marginal product of an input is defined to be:   A. the additional output that can be produced by increasing all inputs by one unit B. the total output produced divided by the number of units of the input C. the additional output that can be produced by increasing the input by one unit, holding all other inputs constant D. the additional revenue that is generated by increasing the input by one unit Clear my choice

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Isocost and Isoprofit Curve Analysis

An isocost curve in the production theory that is a crucial part of economics depicts different combinations of factor inputs at a given market cost. In other words, this shows all the combinations of production factors that cost the same for the firm to employ. Usually, this can be depicted as a downward sloping straight line when the firms act as the price-takers in the factor markets. The slope of this mainly depicts the relative prices of different production factors.