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What is the marginal product?
The marginal product of an input is the extra quantity of output which is generated by using one more unit of which input.
Marginal product of labor = Change in quantity of output/Change in quantity of labor = Change in quantity of output produced by one additional unit of labor.
MPL = ΔQ/ ΔL
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what reasons limit the bargaining power of trade union in developing countries
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The rate of interest in the UK also showed very interesting results, to an impulse shock on oil price. The middle left graph from Fig 4.4 shows the results. Initially, in the short
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why is international trade important for south Africa
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