Examlex
The scope of § 1983 liability of "persons" was expanded to include local governments or agencies if the alleged harm was the result of a local policy or custom by the case of Monell v. Department of Social Services of the City of New York (1978).
Marginal Productivity Theory
An economic theory suggesting that the addition of a unit of labor or capital within the production process will increase the output by the amount of the marginal product.
MP L
Marginal Product of Labor; the additional output resulting from employing one more unit of labor, holding other inputs constant.
MP C
Marginal Propensity to Consume, which is the fraction of additional income that a household spends on consumption.
Production Costs
Expenses associated with the creation of a product or service, including raw materials, labor, and overhead costs.
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