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Karla Dupont
on Nov 25, 2024

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Marginal product

A) diminishes at all levels of production.
B) may initially increase, then diminish, but never become negative.
C) may initially increase, then diminish, and ultimately become negative.
D) is always less than average product.

Marginal Product

is the additional output that results from using one more unit of a particular input, holding other inputs constant.

Average Product

The output produced per unit of input, calculated by dividing total output by the number of units of input.

  • Familiarize yourself with the concept of declining marginal returns.
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DE
Deena EludinNov 26, 2024
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