Asked by Kendra Grady on Jun 27, 2024
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Marginal productivity is
A) The total output associated with total inputs
B) The total output associated with extra inputs
C) The extra output associated with total inputs
D) The extra output associated with extra inputs
Marginal Productivity
Marginal productivity is the additional output that is produced by using one more unit of a certain input, assuming that all other inputs remain constant.
Total Output
The complete quantity of goods or services produced by a company, sector, or economy within a given period.
Extra Inputs
Additional resources or factors of production, such as labor or materials, that are used to increase output or efficiency.
- Acquire knowledge about the declining marginal productivity law and its repercussions on production outcomes.
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Learning Objectives
- Acquire knowledge about the declining marginal productivity law and its repercussions on production outcomes.
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