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marginal inputs

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  • Marginal return — refers to the additional output resulting from a one unit increase in the use of variable inputs, while other inputs are held constant. See also Returns (economics) Categories: Economics and finance stubsFinance …   Wikipedia

  • Marginal product of labor — In economics, the marginal product of labor also known as MPL or MPN is the change in output from hiring one additional unit of labor. It is the increase in output added by the last unit of labor.[1] Ceteris paribus that no other inputs to… …   Wikipedia

  • Marginal cost — A typical marginal cost curve with marginal revenue overlaid In economics and finance, marginal cost is the change in total cost that arises when the quantity produced changes by one unit. That is, it is the cost of producing one more unit of a… …   Wikipedia

  • Marginal product — In economics and in particular neoclassical economics, the marginal product or marginal physical product of an input (factor of production) is the extra output that can be produced by using one more unit of the input (for instance, the difference …   Wikipedia

  • Marginal Revenue Product - MRP — The change in revenue that results from the addition of one extra unit when all other factors are kept equal. The marginal revenue product is used in marginal analysis to examine the effect of variable inputs, such as labor, and follows the law… …   Investment dictionary

  • Marginal Rate Of Transformation — The rate at which one good must be sacrificed in order to produce a single extra unit (or marginal unit) of another good, assuming that both goods require the same scarce inputs. The marginal rate of substitution is tied to the production… …   Investment dictionary

  • Marginal Budgeting for Bottlenecks — The Marginal Budgeting for Bottlenecks tool (MBB) is an analytical costing and budgeting tool that helps countries develop their health plans by taking into account the most effective interventions, cost and budget marginal allocations of their… …   Wikipedia

  • Production theory basics — In microeconomics, Production is simply the conversion of inputs into outputs. It is an economic process that uses resources to create a commodity that is suitable for exchange. This can include manufacturing, storing, shipping, and packaging.… …   Wikipedia

  • Production function — Graph of Total, Average, and Marginal Product In microeconomics and macroeconomics, a production function is a function that specifies the output of a firm, an industry, or an entire economy for all combinations of inputs. This function is an… …   Wikipedia

  • Economics — This article is about the social science. For other uses, see Economics (disambiguation). For a topical guide to this subject, see Outline of economics. Economics …   Wikipedia

  • Cost curve — In economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms use these curves to find the optimal point of production (minimising cost), and… …   Wikipedia

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