Marginal Product

Marginal Product
Marginal Product refers to the additional amount of output that is produced by employing one more unit of a particular input, holding all other inputs constant. It is a measure of production efficiency and is crucial in understanding the behavior of production processes.
Marginal Revenue Product (MRP)
The Marginal Revenue Product (MRP) is an important concept in economics that represents the additional revenue a firm could receive by employing one more unit of input.

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