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The additional output produced by 1 additional unit of input, ceteris paribus, is
called…
a) marginal product.
b) average product.
c) marginal cost.
d) total product.

Ask by Delgado Burns. in the United States
Mar 24,2025

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The additional output from one more unit of input is called the marginal product.

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Bonus Knowledge

If you’ve ever wondered how businesses make decisions about resources, “marginal product” is the secret sauce! It refers to the extra output gained from employing one more unit of input, like adding an extra worker or more raw materials. Understanding this concept helps companies maximize efficiency and productivity, leading to smarter decisions and better profits!
In the real world, businesses constantly assess their marginal product to determine whether hiring an extra employee or investing in new technology is worth it. For instance, a bakery might measure how much more bread it can produce with an additional baker. If the marginal product is high, they might decide it’s time to expand their team or invest in more ovens to boost production and satisfy customer demand.

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