Question
What is the formula marginal product of labor
Answers
GPT 3.5
The formula for the marginal product of labor (MPL) is:
MPL = ΔQ / ΔL
where:
- MPL is the marginal product of labor
- ΔQ is the change in output or quantity produced
- ΔL is the change in labor input or number of workers.
MPL = ΔQ / ΔL
where:
- MPL is the marginal product of labor
- ΔQ is the change in output or quantity produced
- ΔL is the change in labor input or number of workers.