Marginal Product (MP) refers to the additional output generated by employing one more unit of a specific input, holding all other inputs constant. It is a crucial concept in cost accounting, helping businesses understand the efficiency of resource allocation. The definition of marginal product is essential for optimizing production processes and maximizing profitability. By analyzing MP, firms can make informed decisions about scaling operations and resource utilization.
CMA Prep Course
CMA Exam Academy is a proven, 16-week per part online coaching program to help you pass the CMA. The Academy’s comprehensive curriculum will help you pass the CMA exam and achieve your dreams of earning 6-figures per year, ascend to the executive ranks and earn the respect from your peers.
