This site provides a good analysis of the concepts of marginal product, marginal revenue product, marginal costs, and how a monopsonist determines wages and quantity of labor hired.

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marginal cost, marginal product, marginal production, marginal productivity, marginal revenue product, monopsony, measuring production

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Classroom Considerations

Knovation Readability Score: 5 (1 low difficulty, 5 high difficulty)

This resource is only available on an unencrypted HTTP website.It should be fine for general use, but don’t use it to share any personally identifiable information

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