标题： marginal product how to calculate 📈

Marginal product, or MP for short, refers to the additional output produced by adding one more unit of input, such as labor or capital. To calculate it, you need to know the total product (TP), which is the overall output from all units of input. The formula is simple: MP = ΔTP / ΔInput. For example, if adding one worker increases your total production from 50 to 60 units, the marginal product of that worker is 10 units.

Understanding marginal product helps businesses optimize resource use. When MP starts decreasing despite adding more inputs, it signals diminishing returns. 😊 Keep in mind, though, that MP can vary depending on technology and efficiency. Always monitor this metric to make informed decisions about scaling operations or cutting costs. Whether you're running a small business or analyzing large-scale industries, knowing how to calculate MP gives you an edge in strategic planning. 🚀