The marginal product of an input is defined as the
A) change in output.
B) change in output divided by the change in input.
C) change in input.
D) total output divided by the total inputs.
E) cost of the input.

Question

Quizplus · Accepted Answer

Marginal product is defined as the additional output produced by one additional unit of input. Therefore, it is calculated as the change in output divided by the change in input. Choice B is the only option that accurately reflects this definition.

The Marginal Product of an Input Is Defined as the