Examlex
What is good-value pricing?
Inputs
The resources such as labor, materials, and capital that are used in the production process to create goods and services.
Returns To Scale
The rate at which output increases in response to proportional increases in all inputs or factors of production.
Production Function
An equation that describes the maximum amount of output that can be obtained from a given number of inputs.
Output
The total amount of goods or services produced by a company, country, or economic system.
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