Enter the total change in output and the total change in input into the calculator. The calculate will evaluate the marginal product.
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Marginal Product Formula
The following equation is used to calculate the marginal product of a produced good.
MP = O / I
- Where MP is the marginal product
- I is the change in input
- O is the change in output
Marginal Product Definition
A marginal product is the ratio of the change in output with a corresponding change in input of a good or service. For example how the out put would change with a doubling of the input.
Marginal Product Example
How to calculate a marginal product?
- First, determine the change in input.
Calculate the total change in input.
- Next, determine the change in output.
Calculate the total quantity change in output.
- Finally, calculate the marginal product.
Use the equation above to calculate the marginal product.
FAQ
What is a marginal product?
A marginal product is a measure of the ratio of input to output of a product. This input and output could be quantities, monetary, or other metrics.
