The marginal product of labor is a variable used in economic theory. This variable quantifies the additional output produced by adding an additional unit of labor. The value of this variable is ...

1. If marginal product is decreasing, then average product must also be decreasing. 2. For a fixed-proportion technology, inputs cannot be substituted for each other in production. 3. The marginal ...

This is a preview. Log in through your library . Journal Information The American Economic Review is a general-interest economics journal. Established in 1911, the AER is among the nation's oldest and ...