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 ...

Firms usually decide how many workers to employ based on how much income each worker generates for the company after deducting employment expenses. Managers estimate how much income workers generate ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...