Examlex
Reminiscing can serve which of the following functions?
Diminishing Marginal Returns
The principle that adding an additional factor of production results in a smaller increase in output after a certain point.
Total Product
The total output or production by a firm using a given amount of inputs within a specific period.
Variable Input
A resource or factor of production whose quantity can be changed easily in the short term to adjust production levels.
Diminishing Marginal Returns
An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain at a constant.
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