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The total output generated by the first four units of variable input is 200 units, 350 units, 450 units and 500 units. The marginal product of the third unit of input is:
Option (2) is correct.
Explanation: MP3 = TP3- TP2 = 450 - 350 = 100 units
Hence, marginal product of the third unit of input is 100 units.
By: Parvesh Mehta ProfileResourcesReport error
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