WAEC Economics 2021 Objective — Question 17
Question 17 of 50 from the West African Examinations Council (WAEC) Economics 2021 Objective paper, with the correct answer and a full explanation.
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17. The output of an extra unit of an input is referred to as
- A. output of the input.
- B. marginal product of the input.Correct
- C. average product of the input.
- D. utility of the input employed.
Explanation
The additional output produced by using one more unit of an input is, by definition, the marginal product of that input.
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