Examlex
An heirloom variety has undergone inbreeding to create a genetically uniform variety.
Marginal Product
The additional output that results from using one more unit of a particular input, holding other inputs constant.
Average Product
The average output produced per unit of a factor of production over a specific period, often calculated for labor or capital.
Input
The resources used in the production process, such as labor, materials, and machinery.
Explicit Costs
These are direct payments made to others in the course of running a business, such as wages, rent, and materials.
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