You convince your manager that you are worth more money than you are currently being paid by demonstrating to your manager the marginal revenue product your employment contributes to the sandwich shop.
Marginal revenue product - It is the market value of one of the additional unit of output , is known as marginal revenue product also called the marginal value product . The calculation for marginal revenue product is calculated by the multiplication of the marginal revenue with the marginal product of the labor . MRP = MR * MPL
Where ,
MRP = Marginal revenue product
MR = marginal revenue
MPL = marginal product of the labor .
While marginal sales refers to the increase in sales achieved by selling one additional unit of a service or product, general revenue refers to the total amount of cash earned by a business (income increased by the prices of services and products). When a company faces a demand curve that slopes downward, marginal revenue will likely be significantly lower than average sales and even poor.This is because if a company lowers its rate, it gets a lower average price but also loses money that it could have made selling devices at a higher price.
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