passwella.
Menu

WAEC Economics 2021 Question 17

Question 17

Theory of Production

The output of an extra unit of an input is referred to as

  1. A.output of the input.
  2. B.marginal product of the input
  3. C.average product of the input
  4. D.utility of the input employed.
Show the answer and explanation

Answer: B (marginal product of the input)

Explanation

Marginal product is the extra output from one more unit of input.