In economics, the marginal product of labor (MPL) is the change in output that results from employing an added unit of labor.
Read more about Marginal Product Of Labor: Definition, Examples, MPL and MC, Relation Between MPL and APL, The Law of Diminishing Marginal Returns, MPL, MRPL and Profit Maximization, Marginal Productivity Ethics
Famous quotes containing the words marginal, product and/or labor:
“Most works of art are effectively treated as commodities and most artists, even when they justly claim quite other intentions, are effectively treated as a category of independent craftsmen or skilled workers producing a certain kind of marginal commodity.”
—Raymond Williams (1921–1988)
“Labor is work that leaves no trace behind it when it is finished, or if it does, as in the case of the tilled field, this product of human activity requires still more labor, incessant, tireless labor, to maintain its identity as a “work” of man.”
—Mary McCarthy (1912–1989)
“The manufacturing corporation, except in comparatively few instances, no longer represents a protecting care, a parental influence, over its operatives. It is too often a soulless organization; and its members forget that they are morally responsible for the souls and bodies, as well as for the wages, of those whose labor is the source of their wealth.”
—Harriet H. Robinson (1825–1911)