Examlex
Job splitting occurs when a single full-time job is retained, but its performance is shared by two or more employees.
Bushel of Wheat
A measure of volume used in the U.S. to quantify agricultural commodities, equivalent to approximately 35.24 liters.
VMPL Curve
A graphical representation showing the value of the marginal product of labor, which changes as more labor is employed.
Technological Advance
The development and application of new technologies or improvements in existing technologies, leading to greater efficiency or new capabilities.
Marginal Product
The increase in output that arises from an additional unit of input, holding all other inputs constant.
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