_______ of an input is defined as the change in output per unit of change in the input when all other inputs are remain constant. |
Marginal Product. Average Product. Total Product. Returns to Scale. |
Marginal Product. |
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
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