Marginal Productivity The concept of marginal productivity refers to the additional or extra output that a business gains by increasing labor by one unit, for example hiring one more worker (Farrell, 2013). In simple terms, therefore, marginal productivity is the extra rewards realized when a single unit of labor is added into the production process, while all other
The Concept of Marginal Productivity and its Application Custom Essay
August 3rd, 2017 admin