Q. 2

Define marginal p

Answer :


The marginal physical product is the change in the total product with the employment of an extra unit of input. It shows the change in the total product with the employment of an extra unit of input. It is the slope of the total product curve. The marginal physical product is generally expressed in terms of the changes in variable factor in the short run.


MP = rTP/rI; rTP - change in TP


rI – change in input


MP = TPn – TPn-1



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