Those working in bars earned slightly more, with an average hourly wage of $9.84. Hosts and hostesses employed by hotel restaurants earned a significantly higher wage, averaging $10.95 per hour. The few hosts and hostesses employed by colleges and universities earned the highest wage, $12.85 per hour.
Definition of marginal value: The incremental value that is achieved through additional output. Marginal value exists through a product modification that results in an increase in price or an increase in unit production. The value ...
Law Of Diminishing Marginal Productivity An economic principle that states that while increasing one input ... Law of Diminishing Marginal Returns A law of economics stating that, as the number of new employees ... External Diseconomies Of Scale External factors beyond the control of a company increases its ... Marginal Revenue - MR The increase in revenue that results from the sale of one additional ...