Marginal product is …………?
Select ONE answer:
- Total amount of output produced.
- Total amount of output produced divided by the quantity of labor employed.
- Total amount of output produced divided by price of the output.
- The increase in output that results from a one-unit increase in the quantity of labor employed with all other inputs remaining the same.
Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple choice question is suitable for Economics KS5 classes.
The answer is 4
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