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 ...

Businesses measure productivity in two ways: marginal and average. The calculation of both types often yields different answers as a result of the fundamental differences behind each measurement. In ...

Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Erika Rasure is globally-recognized as a leading consumer economics subject ...