- CFA Exams
- CFA Level I Exam
- Topic 2. Economics
- Learning Module 1. The Firm and Market Structures
- Subject 1. Supply Analysis: Cost, Marginal Return, and Productivity
CFA Practice Question
The increase in output obtained by hiring an additional worker is known as the ______.
B. marginal product
C. total product
A. average product
B. marginal product
C. total product
Correct Answer: B
Marginal product is the additional output obtained by using one more unit of variable input; in this case, labor is the variable input.
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