Question : ________ of an input is defined as the change in output per unit of change in the input when all other inputs are held constant.
Option 1: Marginal product
Option 2: Production function
Option 3: Total product
Option 4: Average product
Correct Answer: Marginal product
Solution : The correct answer is Marginal product .
It measures how many units of a particular input, such as labour or capital, contribute to total output or production in a certain period if all other factors remain static. The marginal product of an input may be used to calculate how much output a company can create by increasing the amount of that input. It may also be used to assess a company's ideal amount of output. An input's marginal product might alter with time.
SSC CGL Complete Guide
Candidates can download this ebook to know all about SSC CGL.
