Examlex
According to the segmented markets theory of the term structure
MPP
Marginal Physical Product, the additional output resulting from the use of one more unit of a variable input, holding all other inputs constant.
MRP
Marginal Revenue Product; the additional revenue generated from employing one more unit of a resource or factor of production.
Substitution Effect
The change in demand for a good or service that occurs when its price increases or decreases, leading consumers to substitute it with other goods or services that are relatively more or less expensive.
Output Effect
The impact on the total production of goods and services in an economy resulting from changes in demand, supply, technology, or factors of production.
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