Question

a person in charge of hiring productive inputs should care more about marginal products than about average products because the marginal product multiple choice is the only measure of productivity. shows how much more the potential employee can provide. includes information indicating the average product. is easier to evaluate than the average product.

Answer 1

A person in charge of hiring productive inputs should care more about marginal products than about average products because the marginal product shows how much more the potential employee can provide.

The extra output produced as a result of more input going into a business is known as the marginal product. MPP, or marginal physical product, is another name for it.

In the real world, this could refer to the extra donuts made at a donut shop after they hire a new employee. Alternatively, it might refer to the extra strawberries that a farmer harvests after sowing more seeds. Or the additional income a bowling alley would make if it added more lanes.

The additional output brought about by the addition of one unit of capital, which is typically cash, is known as the marginal product of capital. Start-ups, which depend on private investment to get their business off the ground, frequently fall under the purview of this metric.

Learn more about Marginal product, here

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