35 Great Logos Inspired By Cats

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“This can be easily teen in the above diagram, where the mar-ginal product of labour a measured on tbe vertical axis and the Munber of aim of labour (and not workers) is measured on the horizontal axis. Under tubtislencc farming ON anits of labour •ill be applied lo a givca pace of laad with given technique and capital equipment. This gives a maximum total food output of PNO from the given area of land. Lei OW be the wage fin Knot of the (bod crop) per unit of labour. Under commercial farming, producing the same crop with the tame technique of cukivatiou aad capital equipment. ooly OM uaiti of labour will be applied to the tame piece of had; for at this point tbe marginal product of Ihe Iasi unit of labour MR is equal to its vrage late. Compared to subsistence agriculture, therefore, the ratio of labour to land it reduced under commercial agriculture.

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