The value of the marginal Product of labor The value of the marginal product is the marginal product of the input multiplied by the market price of the output VMPI=MPI XP The value of the marginal product is measured in dollars o It diminishes as the number of workers rises because the market price of the good is constantThe Value of the Marginal Product of Labor • The value of the marginal product is the marginal product of the input multiplied by the market price of the output. – VMPL = MPL X P • The value of the marginal product is measured in dollars. • It diminishes as the number of workers rises because the market price of the good is constant