Examlex
Which term best describes a risk taker whose job is located within a corporation, company, or other organization?
Price of Labor
The cost associated with hiring workers, often considered in terms of wages or salaries.
Marginal Product
The change in output that results from employing an additional unit of input, holding all other inputs constant.
Average Product
The output per unit of a particular input, such as labor or capital.
Optimal Production Technique
A method that contributes to the most efficient process of producing goods and services given the available resources and technology.
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