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 ...
DEFINITION of 'Law of Diminishing Marginal Returns'. A law of economics stating that, as the number of new employees increases, the marginal product of an additional employee will at some point be less than the marginal product of the previous employee. Next Up.