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)
“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)
“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–?)