Examlex
Sole proprietorships must use the same tax year as the proprietor of the business.
Labor
Human effort, both physical and mental, used in the production of goods and services.
Output
The total amount of goods or services produced by a firm, an industry, or an economy, often measured within a specific time period.
Production Function
An equation or graph that indicates the maximum output that a firm can produce with a given set of inputs, such as labor and capital, under current technology.
Production Function
A mathematical relationship expressing the maximum output that can be produced from a given set of inputs.
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