Small-business owners can understand their companies in terms of inputs and outputs. The wages you pay your employees are inputs, and the work they do is an output. There is a limit to the benefit ...

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 ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Marginal revenue product (MRP), also known ...