Sentence examples for marginal products from inspiring English sources

Following Hamermesh (1975) and Akerlof and Yellen (1988), there is an efficiency argument in paying high-productivity jobs in a firm below and low-productivity jobs above their marginal products so as to compress the overall wage structure.

Neoclassical theory assumes that the total product Q is exactly exhausted when the factors of production have received their marginal products; this is written symbolically as Q = (∂Q/∂L) · L + (∂Q/∂K) · K.

Equilibrium condition (15) indicates that labor is allocated between primary production and manufacturing until its value marginal products in the two sectors are equalized.

In this view, the value of the final output is separated (imputed) by the marginal products, which can also be interpreted as the productive contributions of the various inputs.

They find that dispersion in the marginal products of capital and labor account for the low measured productivity in the manufacturing sector of these countries.

Female immigrants are potentially exposed to both intrinsic productivity differences and segregation into categories with lower productivity, again suggesting lower pay or, in the case of wages below marginal products, a risk of "double discrimination" for this group.

However, as argued above,h and s may be substitutes in production, so thatthe marginal product of h is reduced when s increases,and vice versa.4.

Stimulation (within the pleasant range) and comfort are each related to physical well-being by a monotonically increasing production function with decreasing marginal product.

If one must choose between adding one big machine or none at all to production, the concept of the marginal product becomes unworkable.

In a competitive market, the payment to each factor of production equals its value of marginal product.

Everyone's being paid precisely their marginal product (their value added to their firm's production at the margin) and to increase their pay by mandate is to render them unaffordable.