Marginal Product Assignment Help

Assignment Help: >> Production Function - Marginal Product

Marginal Product (MP):

Marginal product is the change in total product resulting from the use of one more (or less) unit of a variable factor. It may also be explained as the rate of change in total product with respect to a variable factor. i.e.

Where ? = change

Marginal product is also calculated in respect of variable factor. The MP of labour

1726_Marginal Product.png

(MPL) is measured as:

1321_Marginal Product1.png

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