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The minimum amount of oxygen in the air required for a human to survive (unaided) is around 16 percent of the current abundance in Earth's atmosphere.Using the figure below, what is the earliest time in Earth's history that a human could breathe unaided?
Marginal Revenue Product
The additional revenue generated from employing one more unit of a resource, such as labor or capital.
Marginal Physical Product
The additional output that is produced by employing one more unit of an input, holding other inputs constant.
Substitution Effect
The economic understanding that as prices rise, or income decreases, consumers will replace more expensive items with less costly alternatives.
Output Effect
The impact on total production and economic output resulting from changes in price levels, influencing the quantity supplied or demanded.
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