The marginal product of an input in the production process is the increase in
A)total revenue obtained from an additional unit of that input.
B)profit obtained from an additional unit of that input.
C)Total revenue obtained from an additional unit of that input.
D)quantity of output obtained from an additional unit of that input.

Question

Quizplus · Accepted Answer

The marginal product of an input in the production process is the additional output obtained from an additional unit of that input. It measures the increase in output resulting from the use of one more unit of input, while holding all other inputs constant. Therefore, the correct choice is D - quantity of output obtained from an additional unit of that input. The other choices (A, B, C) do not accurately describe the concept of marginal product.

The Marginal Product of an Input in the Production Process