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Marginal Product Of Labor

Published on Dec 01, 2015

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PRESENTATION OUTLINE

1.

MARGINAL PRODUCT OF LABOR

2.

CHANGE IN OUTPUT FROM HIRING ONE MORE WORKER

3.

THERE ARE 3 MARGINAL RETURNS. INCREASING, DIMINISHING AND NEGATIVE.

4.

MARGINAL REVENUE

ADDITIONAL INCOME FROM SELLING ONE MORE UNIT
5.

MARGINAL COST & REVENUE

FIRMS WILL PRODUCE THAT THEY ARE EQUAL

Kacie Saucedo