The marginal product of labor is a variable used in economic theory. This variable quantifies the additional output produced by adding an additional unit of labor. The value of this variable is ...

Understand the link between total and marginal revenue, their differences, and how to calculate marginal revenue effectively. Learn when a company should adjust production.

Decisions on whether to increase production can usually be boiled down to a simple question of costs vs. benefits: Will the extra money you make from increasing your output be worth the additional ...