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Question Practice

What is Marginal Product (MP) and why is it important?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Production And Costs
Question Bank

What is Marginal Product (MP) ...

Single Answer MCQ
Q-00089430

What is Marginal Product (MP) and why is it important?

1

The increase in output from one more unit of input; it helps assess productivity.

2

The total output for all inputs combined; it reflects overall efficiency.

3

The average output per unit of input; it provides an efficiency ratio.

4

The decrease in total costs due to input adjustments; it assists in budgeting.

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