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describe the whole concept/ relationship between Marginal Price of Labor, Wages, and Profit? I’m really confused on this whole thing, not sure if there’s other parts like Value of Marginal Product of Labor, but I know those 3 have an equation like P= MPL x W and I’m very confused

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Can you describe the whole concept/ relationship between Marginal

Price of Labor, Wages, and Profit? I’m really confused on this whole thing, not sure if there’s other parts like Value of Marginal Product of Labor, but I know those 3 have an equation like P= MPL x W and I’m very confused

 
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