Definition
The marginal product of a factor of production is generally defined as the change in output associated with a change in that factor, holding other inputs into production constant.
The marginal product of labor is then the change in output (Y) per unit change in labor (L). In discrete terms the marginal product of labor is
In continuous terms the MPL is the first derivative of the production function:
Graphically the MPL is the slope of the production function.
Read more about this topic: Marginal Product Of Labor
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