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How to calculate marginal product
To calculate marginal product, you need to calculate the total output, calculate the total output with the addition of one extra worker, and calculate the marginal product of labor. Here are the steps and formula for calculating marginal product of labor:
Calculate the total output
First, you must calculate the total output made by any given amount of employees.
Calculate the total output with the addition of one extra worker
Next, you need to add one more worker to the production process. Then repeat the first step again, calculating the total output.
Calculate the marginal product of labor
The Manual Product of Labor (MPL) is equal to the change in total output divided by the change in the number of employees.
Formula for the marginal product
Here is the calculator for marginal product in formula form:
MPL = (Total output with one additional employee - Total output) / (Change in number of employees)
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