Distinguish between managerial economics and marginal productivity
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Marginal productivity is the increase in the rate of output created by adding one more unit of the input while maintaining the same constant inputs for example marginal productivity could measure the increase of output by adding one more worker with marginal productivity the higher the productivity of a unit or worker of production the higher the resulting income
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Managerial economics
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Marginal productivity is the increase in the rate of output created by adding one more unit of the input while maintaining the same constant inputs for example marginal productivity could measure the increase of output by adding one more worker with marginal productivity the higher the productivity of a unit or worker of production the higher the resulting income
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