MRPL

(redirected from Marginal Revenue Product of Labor)
AcronymDefinition
MRPLMangalore Refinery Petrochemicals Limited (India)
MRPLMinimum Required Performance Limit (European Commission food residue limit)
MRPLMain Ring Path Length
MRPLMangalore Refinery & Petrochemicals Ltd
MRPLMarginal Revenue Product of Labor (economics)
MRPLMaine Recreational Paintball League
MRPLMinimum Required Proficiency Load (US Air Force)
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References in periodicals archive ?
The dispersion of the marginal revenue product of labor (MRPL) has also risen, but not as much as the dispersion of MRPK.
The value of a given worker-hour to employers is given by the vertical distance between the horizontal axis and the demand curve; this distance is equal to the "marginal revenue product of labor," or amount of revenue generated by that worker-hour.
d) The degree to which workers are demanded and paid in accordance with their total marginal revenue product of labor. In some contexts workers may receive an "efficiency wage" rather than a wage equal to the total marginal revenue product of labor, and this may bear on the analysis of legal intervention in employment markets.(40)
Let [MP.sub.i] and [MP.sub.f] be marginal revenue product of labor in TVEs and in farming, r.
Assume that TVEs pay workers the marginal revenue product of labor [W.sub.i] and remit the profit to the community.
Layoffs will occur until the marginal revenue product of labor is re-equated to the contractually fixed nominal wage.
Now, assume that the quantity of capital, the complementary factor, is increased from [k.sub.1] to [k.sub.2] units following the wage reduction and the marginal revenue product of labor curve shifts to [Mathematical Expression Omitted].
To answer the question, "why do pro athletes make so much money?" chapter 6 invokes the marginal revenue product of labor, but makes no attempt to estimate the marginal revenue products of pro athletes.
To address the question of migration's effect on output, the marginal revenue product of labor in destination and origin departments must be identified.
The marginal revenue products of skilled and unskilled labor are derived and then multiplied by the relative efficiency measure to arrive at the efficiency-adjusted marginal revenue product of labor. For those sectors for which department-level efficiency measures cannot be identified, production is assumed equally efficient in all departments.
where MRP.sub.L is the marginal revenue product of labor, and MFC.sub.L is the marginal factor cost of labor.
MR[P.sub.LC] = marginal revenue product of labor in the contractor sector,