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

Question

YESPYQ · Accepted Answer

Correct answer: a) Marginal product. Marginal product of input or factor of production is a change in output resulting from employing one more unit of a particular input. Example, change in output when a firm's labor is increased from five to six units, assuming that quantities of other inputs are kept constant. Hence, the correct answer is “Marginal product”.

..................of an input is defined as the change in output per unit of change in the input when all other inputs a…

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