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:
“In realms of knowledge, we bequeath our books,
And woe pursue who to a master quotes
The funnier of our witty marginal notes.”
—Philip Larkin (1922–1986)
“Cultural expectations shade and color the images that parents- to-be form. The baby product ads, showing a woman serenely holding her child, looking blissfully and mysteriously contented, or the television parents, wisely and humorously solving problems, influence parents-to-be.”
—Ellen Galinsky (20th century)
“Capital is a result of labor, and is used by labor to assist it in further production. Labor is the active and initial force, and labor is therefore the employer of capital.”
—Henry George (1839–1897)