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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 revenueMarginal revenueThe change in total revenue as a result of producing one additional unit of output. MarginalMarginalIncremental. 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 propensity to saveMarginal propensity to saveThe fraction of a change in income (or perhaps disposable income) that is saved. Marginal propensityMarginal propensityThe fraction of a change in income devoted to an activity, such as consumption, importing, or saving. See propensity. Further SuggestionsMarginal tax rateMarginal utility Marginal cost Marginal product marginal tax rate Marginal value product Marginal propensity to import Marginal efficiency of capital Marginal propensity to consume Value marginal product Marginal rate of substitution |
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