marginal product of labor
(mar-gin-al-prod-uct-of-la-bor)
8 syllables
Definition
noun. the additional output produced as a result of adding one more unit of labor, holding other inputs constant. this concept is essential in economics for understanding how labor contributes to production.
Example Sentence
The marginal product of labor helps businesses determine the optimal number of workers needed for maximum efficiency.
More Example Sentences
An increase in the marginal product of labor can indicate higher productivity levels within a company.
Synonyms
incremental output; additional production; labor contribution
Antonyms
diminishing returns; reduced output; labor inefficiency
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marginal product of labor
