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  • 26-03-2022
  • Business
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Define marginal product and give example

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lamabibusha
lamabibusha lamabibusha
  • 26-03-2022

Answer:

the marginal product or marginal physical productivity of an input is the change in output resulting from employing one more unit of a particular input, assuming that the quantities of other inputs are kept constant.

For example, marginal product may be the increased number of products produced with the addition of one extra worker on a production line. Marginal product increases may also be attributed to other input factors besides labor.

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