Marginal tax rate
Marginal tax rateThe additional tax which someone pays on each £1 increase of his or her taxable income. In the UK the tax bands for 2003-2004 tax year are:10 per cent on the first slice of earnings22 per cent on next slice40 per cent on top sliceUnder the 'progressive' tax system, once someone's earnings take him into the top tax bracket, any extra earnings will be taxed at the top rate. So someone who is in the 40 per cent bracket has a marginal tax rate of 40 per cent.
Marginal tax rateThe tax rate that would have to be paid on any additional dollars of taxable income earned.
Marginal tax rate
Marginal utilityMarginal utility
The change in total satisfaction as a result of consuming one additional unit of a specific good or service.
Marginal value productMarginal value product
The value of the marginal product of a factor in an industry; that is, the price of the good produced times the marginal product. Determines factor prices when all markets are competitive.
Marginal revenueMarginal revenue
The change in total revenue as a result of producing one additional unit of output.
Marginal propensity to saveMarginal propensity to save
The fraction of a change in income (or perhaps disposable income) that is saved.
Marginal revenue productMarginal revenue product
The 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.
Further SuggestionsMarginal efficiency of capital
Marginal rate of transformation
Marginal propensity to import
Marginal propensity to consume
Marginal rate of substitution
Value marginal product