_______ of an input is defined as the change in output per unit of change in the input when all other inputs are remain constant.
Answer & explanation
Correct answer: option 1
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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Average Product: The total output divided by the total number of units of an input used.
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Total Product: The total quantity of output produced with a given set of inputs.
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Returns to Scale: A long-run concept that describes how output changes when all inputs are increased proportionally.