marginal product

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marginal product

[′mär·jən·əl ′präd·əkt]
(industrial engineering)
The extra unit of output obtained by one extra unit of some factor, all other factors being held constant.
References in periodicals archive ?
The quantity of fertilizer applied to the cocoa farm had the highest marginal physical product (133.
The measurement of the marginal physical product of the household size, farm size, insecticides, fungicides and fertilizer indicated positive values re-emphasizing the importance of these factors in cocoa production.
It is the product of the marginal physical product of capital in industry Y ([[MPP.
In a competitive market, economic theory says that wages will equal workers' marginal revenue product, which is calculated as their marginal physical product times the market price of the goods or services they produce.
The marginal physical product is the addition to output made by the last worker hired.
the marginal physical product of the factor) will be increased in both the expanding industry and the contracting industry.
It is the product of the marginal physical product of labor in industry X ([Mathematical Expression Omitted]) and the total amount of labor.
Those conditions then read: hire factors up to the point where their marginal revenue products, or marginal physical products multiplied by marginal revenue, equal their factor prices.
Since these conditions state that factor prices equal factor marginal physical products times product price [Pi], such substitution yields the expression

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