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Define marginal product?

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Define marginal product?
  • 1 answers

Yogita Ingle 7 years, 1 month ago

The additional output produced as a result of employing an additional unit of the variable factor input is called the Marginal Product. Thus, we can say that marginal product is the addition to Total Product when an extra factor input is used.

Marginal Product = Change in Output/ Change in Input

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