A company's marginal product of labor is the number of additional products it can produce by hiring one additional worker. A company's marginal revenue product of labor is the amount of additional ...

In order to determine the marginal value of labor, you first need to calculate the marginal product of labor. According to Northwestern University, the marginal product of labor indicates how many ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Timothy Li is a consultant, accountant, and ...

Marshall Hargrave is a stock analyst and writer with 10+ years of experience covering stocks and markets, as well as analyzing and valuing companies. Somer G. Anderson is CPA, doctor of accounting, ...

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 ...