Examlex
The slope of the total revenue curve is:
Marginal Product
The extra output generated from increasing a particular input by one unit, while all other inputs remain unchanged.
Customers Served
The number of consumers who purchase or are provided with a product or service by a business within a specific period.
Diminishing Returns
A principle stating that if one factor of production is increased while others are held constant, the overall returns will eventually decrease after a certain point.
Marginal Product
The additional output that results from using one more unit of a particular input, while holding other inputs constant.
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