The amount of output, in terms of units of a good or service that is produced when one unit of input is added to the production process. Inputs may include raw materials, labor, energy, or other factors, and calculating the marginal product helps to determine if increasing the amount of an input to the process is worth the cost.
Related information about marginal product:
- Marginal product - Wikipedia, the free encyclopedia
In economics and in particular neoclassical economics, the marginal product or marginal physical product of an input (factor of production) is the extra output that ...
- Marginal product of labor - Wikipedia, the free encyclopedia
In economics, the marginal product of labor (MPL) is the change in output that results from employing an added unit of labor.
- What is marginal product? definition and meaning
Definition of marginal product: Output that results from one additional unit of a factor of production (such as a labor hour or machine hour), all other factors ...
- Marginal product - AmosWEB
The change in the quantity of total product resulting from a unit change in a variable input, keeping all other inputs unchanged. Marginal product, usually ...
- Components of Marginal Product and Marginal ... - Investopedia
Investopedia's Free CFA Level 1 Exam Online Study Guide. Introduces marginal product and marginal revenue product. Examines the relationship between ...
- MARGINAL PRODUCT OF LABOR AND CAPITAL Assume Q = f(L, K ...
MARGINAL PRODUCT OF LABOR AND CAPITAL. MATH 232. Assume Q = f(L, K ) is the production function where the amount produced is given as a function of ...
- Zero marginal product workers
Jul 19, 2010 ... Matt Yglesias suggests the notion is implausible, but I am surprised to read those words. Keep in mind, we have had a recovery in output, but ...
- marginal product (economics) -- Britannica Online Encyclopedia
To this end, the marginal product of a factor is defined as the amount that output would be increased if one more unit of the factor were employed, all other ...