Formula for Marginal Product of Labor
The value of marginal product of labor is expressed mathematically as MP = ΔY/ΔX, where ΔX is the change in the input of the firm and ΔY is the change in the output. Let us look at the concept of marginal productivity of labor in respect to an organization. Suppose a company X has 99 employees and is producing an output Y. Now, the company decides to hire one extra employee.