Examlex
The growth rate of productivity is the most important determinant of material well-being in the short run.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a resource or input.
Total Revenue Product
The overall income generated by a firm from selling its output, factoring in the quantity of output sold and the price per unit.
Marginal Physical Product
The additional output that results from using one more unit of a factor of production, keeping other factors constant.
Marginal Revenue Product
Marginal Revenue Product measures the increase in revenue realized from employing one additional unit of input, such as labor or capital, holding all other inputs constant.
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