As more people are hired, the marginal product of labor decreases because eventually having more and more employees will not make the company more productive.
change in output/change in labor.
Change in Quantity/ Change in Units of Labor.
moarginal product of labor
Marginal product eventually diminishes because the cost of doing business increases with production. The company would need to make a change in the organization so that they can shift their production possibilities.
A procedure through which it is considered by keeping in view economics approach that the cost of labor does not increase its marginal product cost i.e. labor cost less than marginal cost.
change in output/change in labor.
Change in Quantity/ Change in Units of Labor.
moarginal product of labor
As more people are hired, the marginal product of labor decreases because eventually having more and more employees will not make the company more productive.
marginal product of labor
Average Product = (Total Product) / (Labor) Marginal Product(2) = (Total Product)(2) - (Total Product)(1)
Marginal product eventually diminishes because the cost of doing business increases with production. The company would need to make a change in the organization so that they can shift their production possibilities.
marginal product of labor
A procedure through which it is considered by keeping in view economics approach that the cost of labor does not increase its marginal product cost i.e. labor cost less than marginal cost.
Marginal product of labour is no of quantity u can get by increasing labour by one quantity i.e in simple term suppose u have N labour initially and they r manufacturing P product and then u r hiring one more labour for your work keeping all other factore constant so now your production is P' so P'-P is called marginal product of labour and if u r multiplying it with price of one product u will get value of marginal product of labor.
A businesses can add more machinery to increase their marginal product of labor. With more machinery, employees will work the same number of hours, but produce more products.
marginal product of labor (: