The marginal product of a variable input is best described as:
A. Total product divided by the number of units of variable input.
B. The additional output resulting from one unit increase in the variable input.
C. The additional output resulting from one unit increase in both the variable and fixed inputs.
D. The ratio of the amount of the variable input that is being used to the amount of the fixed input that is being used.
Answer:B
The marginal product of a variable input is best described as:
A. Total product divided by the number of units of variable input. B. The additional output resulting from one unit increase in the variable input. C. The additional output resulting from one unit increase in both the variable and fixed inputs. D. The ratio of the amount of the variable input that is being used to the amount of the fixed input that is being used.