Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Production and Costs

Question:

_______ of an input is defined as the change in output per unit of change in the input when all other inputs are remain constant.

Options:

Marginal Product.

Average Product.

Total Product.

Returns to Scale.

Correct Answer:

Marginal Product.

Explanation:

The correct answer is Option (1) → Marginal Product.

Marginal Product (MP) of an input is defined as the change in output resulting from a one-unit change in that input, while keeping all other inputs constant.

MP= Δ Output / Δ Input 

  • Average Product: The total output divided by the total number of units of an input used.

  • Total Product: The total quantity of output produced with a given set of inputs.

  • Returns to Scale: A long-run concept that describes how output changes when all inputs are increased proportionally.