marginal product
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Marginal product — 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 can be produced by using one more unit of the input (for instance, the difference … Wikipedia
Marginal product of capital — (MPK) is the additional output resulting from the use of an additional unit of capital (ceteris paribus assuming all other factors are fixed). It equals 1 divided by the Incremental capital output ratio. It is the partial derivative of the… … Wikipedia
Marginal product of labor — In economics, the marginal product of labor also known as MPL or MPN is the change in output from hiring one additional unit of labor. It is the increase in output added by the last unit of labor.[1] Ceteris paribus that no other inputs to… … Wikipedia
marginal product value — value of a product resulting from additional unit from a manufacturer … English contemporary dictionary
Marginal revenue productivity theory of wages — The marginal revenue productivity theory of wages, also referred to as the marginal revenue product of labor and the value of the marginal product or VMPL, is the change in total revenue earned by a firm that results from employing one more unit… … Wikipedia
Marginal cost — A typical marginal cost curve with marginal revenue overlaid In economics and finance, marginal cost is the change in total cost that arises when the quantity produced changes by one unit. That is, it is the cost of producing one more unit of a… … Wikipedia
Marginal concepts — In economics, marginal concepts are associated with a specific change in the quantity used of a good or service, as opposed to some notion of the over all significance of that class of good or service, or of some total quantity thereof.… … Wikipedia
Marginal Revenue Product - MRP — The change in revenue that results from the addition of one extra unit when all other factors are kept equal. The marginal revenue product is used in marginal analysis to examine the effect of variable inputs, such as labor, and follows the law… … Investment dictionary
marginal productivity theory — In economics, the theory that firms will pay a productive agent only what he or she adds to the financial earnings of the firm. Developed by writers such as John Bates Clark and Philip Henry Wicksteed at the end of the 19th century, marginal… … Universalium
Marginal demand — is the term in economics that refers to the change in demand for a product or service in response to a specific change in its price. Normally, as prices for goods or service rise, marginal demand falls. And conversely, as prices for goods or… … Wikipedia
marginal producer — ➔ producer * * * marginal producer UK US noun [C] ► ECONOMICS a company, country, etc. that produces a small amount of a product or crop with high production costs and little or no profit: »Political uncertainty in some of the world s largest… … Financial and business terms
