Marginal product of labor

Marginal product of labor,

Definition of Marginal product of labor:

  1. Measure of the physical increase in the output of a firm or economy; it is the output that results from hiring one additional worker, all other factors remaining constant.

How to use Marginal product of labor in a sentence?

  1. The marginal product of labor derived from hiring 10 more lumberjacks quickly reaches a point of diminishing returns as the trees grow thinner and the womens clothes scarcer.
  2. We had our marginal product of labor in place to inform us how we were doing and I was happy with what I saw.
  3. You need to make sure that your company can handle a MARGINAL PRODUCT OF LABOR before you decide to expand.

Meaning of Marginal product of labor & Marginal product of labor Definition