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
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
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 8P
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Question
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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