marginal output curve

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• 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 revenue — Typical marginal revenue and average revenue (price) curves for a firm that is not in perfect competition In microeconomics, marginal revenue (MR) is the extra revenue that an additional unit of product will bring. It is the additional income… …   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 revenue productivity theory of wages — The marginal revenue productivity theory of wages, also referred to as the marginal revenue product of labor and the value of the marginal product or VMPL, is the change in total revenue earned by a firm that results from employing one more unit… …   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

• 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

• Laffer curve — A curve conjecturing that economic output will increase if marginal tax rates are cut. Named after economist Arthur Laffer. Bloomberg Financial Dictionary * * * Laffer curve Laf‧fer curve [ˈlæfə ˌkɜːv ǁ fər ˌkɜːrv] noun ECONOMICS the idea… …   Financial and business terms

• laffer curve —  1980s economic idea, espoused by Arthur Laffer, suggesting that lowering marginal tax rates stimulates increases in output thereby increasing government tax revenue.  See also supplyside economics, dynamic scoring …   American business jargon

• production, theory of — ▪ economics Introduction       in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it will produce, and how much of each kind of labour, raw… …   Universalium

• Monopoly — This article is about the economic term. For the board game, see Monopoly (game). For other uses, see Monopoly (disambiguation). Competition law Basic concepts …   Wikipedia

• Profit maximization — In economics, profit maximization is the process by which a firm determines the price and output level that returns the greatest profit. There are several approaches to this problem. The total revenue total cost method relies on the fact that… …   Wikipedia