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 ...

A company's marginal product of labor is the number of additional products it can produce by hiring one additional worker. A company's marginal revenue product of labor is the amount of additional ...

This article extends the current literature on estimating the labor supply function in agriculture by providing a different method to derive the shadow wage and shadow income. The method is based on ...