The marginal product of labor is a variable used in economic theory. This variable quantifies the additional output produced by adding an additional unit of labor. The value of this variable is ...

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Businesses measure productivity in two ways: marginal and average. The calculation of both types often yields different answers as a result of the fundamental differences behind each measurement. In ...

1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Marginal revenue product (MRP), also known ...

This is a preview. Log in through your library . Journal Information The American Economic Review is a general-interest economics journal. Established in 1911, the AER is among the nation's oldest and ...