Examlex
A linear programming problem contains a restriction that reads "the quantity of Q must be at least as large as the sum of R, S, and T." Formulate this as a constraint ready for use in problem solving software.
Derived Demand
The demand for a factor of production or intermediate good that occurs as a result of the demand for another good or service.
Labor
Human effort used in the production of goods and services.
Marginal Product
Refers to the additional output resulting from using one more unit of a production input, holding all other inputs constant.
Capital Input
The amount of capital goods used in the production process, influencing the output.
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