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marginal product
(redirected from Marginal physical product)

    Also found in: Wikipedia 0.02 sec.
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.
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Methodology Tests for Average Realized Returns In a full-information, competitive equilibrium, a profit-maximizing team ought to pay a player a wage (w) no more than his expected MRP, which equals his expected marginal physical product times its value in the team's market.
The existence and persistence of a winner's curse: new evidence from ... by Burger, John D.; Walters, Stephen J.K. / Southern Economic Journal
It is the product of the marginal physical product of capital in industry Y ([[MPP.
Import quotas, foreign capital and income distribution by Yeh, Yeong-Her / American Economist
L] is the arithmetical product of output price and the marginal physical product of labor.
Minimum Wages and the Card--Krueger Paradox by Shepherd, A. Ross / Southern Economic Journal
 
 
 
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