WAEC Economics 2015 Paper

Concept:The sum of all marginal products equals the total product.Explanation:Marginal product is the extra output from one more unit of the variable input.When you add the marginal products for every unit employed, the total accumulated output is obtained.This accumulated output is called total product.Mathematically, if $\mathrm{MP}_1, \mathrm{MP}_2, \mathrm{MP}_3, \dots$ are the marginal products, then:$$\mathrm{TP} = \mathrm{MP}_1 + \mathrm{MP}_2 + \mathrm{MP}_3 + \dots$$Thus, total product is the sum of all marginal products at each level of employment.Answer:B. total product