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Marginal value product |
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Marginal value productThe 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.Similar MatchesMarginal revenue productMarginal 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. Value marginal productValue marginal productMarginal value product. Marginal costMarginal costThe increase in cost that accompanies a unit increase in output; the partial derivative of the cost function with respect to output. 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. Further SuggestionsMarginal revenueMarginal propensity to import marginal tax rate Marginal utility Marginal propensity to save Marginal rate of transformation Marginal efficiency of capital Marginal Marginal propensity to consume Marginal product Marginal propensity |
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