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:
“If the individual, or heretic, gets hold of some essential truth, or sees some error in the system being practised, he commits so many marginal errors himself that he is worn out before he can establish his point.”
—Ezra Pound (1885–1972)
“The site of the true bottomless financial pit is the toy store. It’s amazing how much a few pieces of plastic and paper will sell for if the purchasers are parents or grandparent, especially when the manufacturers claim their product improves a child’s intellectual or physical development.”
—Lawrence Kutner (20th century)
“It is queer to contemplate how many people there are in any community who labor under the hallucination that if one is engaged in any occupation different from their own, that they are just having a good time, with no possible hardships to encounter.”
—Caroline Nichols Churchill (1833–?)