Total product of a variable input is the sum of which of the following? |
Average products Marginal products. Total utility None of the above |
Marginal products. |
The correct answer is Option 2: Marginal products. Since inputs cannot take negative values, marginal product is undefined at zero level of input employment. For any level of an input, the sum of marginal products of every preceeding unit of that input gives the total product. So total product is the sum of marginal products. |