Introduction to Economics 1 Deneme Sınavı Sorusu #1144382
What is the marginal product of labor definition?
The marginal product of labor (MPL) is the change in input that results from employing an added unit of labor. |
To calculate marginal product of labor you simply divide the change in total product by the change in labor. |
Unit change in a variable output, keeping all other outputs unchanged |
Product by the change in the variable output. |
The additional output produced when a small amount of additional labor is employed with all other inputs remaining the same. |
Marginal Product of Labor (MPL) is the additional output produced when a small amount of additional labor is employed with all other inputs remaining the same. More formally, it is the ratio of change in total product to the change in the amount of labor used.
Yorumlar
- 0 Yorum