The marginal product of labor is equal to
the additional labor required to produce one more unit of output
average product when average product is at a minimum
the additional output produced by hiring one more unit of labor
the slope of a ray drawn from the origin to a point on the total product curve
The marginal product of labor is equal to the additional output produced by hiring one more unit of labor.
Firms derive the demand for labor by determining the value of marginal product of labor, and it is based directly on market demand for the end product.
The marginal revenue product of labor for a firm