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Marginal revenue product |
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Marginal revenue productThe additional revenue generated by the extra output from employing one more unit of a factor of production. In a competitive industry this equals the marginal value product, but with imperfect competition it is smaller, due to the implied price reduction. Determines factor prices in competitive factor markets.Similar MatchesMarginal propensity to saveMarginal propensity to saveThe fraction of a change in income (or perhaps disposable income) that is saved. Marginal rate of substitutionMarginal rate of substitutionIn a production function or a utility function, the ratio at which one argument (input) substitutes for another along an isoquant or indifference curve. Marginal tax rateMarginal tax rateThe tax rate that would have to be paid on any additional dollars of taxable income earned. Marginal rate of transformationMarginal rate of transformationThe increase in output of one good made possible by a one-unit decrease in the output of another, given the technology and factor endowments of a country; thus the absolute value of the slope of the transformation curve. Marginal utilityMarginal utilityThe change in total satisfaction as a result of consuming one additional unit of a specific good or service. Further SuggestionsMarginal efficiency of capitalMarginal cost Marginal value product marginal tax rate Marginal propensity to consume Marginal product Marginal Marginal propensity Marginal propensity to import Marginal revenue Value marginal product |
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