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 ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Erika Rasure is globally-recognized as a leading consumer economics subject ...

Businesses measure productivity in two ways: marginal and average. The calculation of both types often yields different answers as a result of the fundamental differences behind each measurement. In ...

Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.