Examlex
Explain how a DNA library is created.
Average Product
The output per unit of input, such as the quantity of goods produced per worker, used to measure productivity.
Marginal Product
The additional output that can be produced by adding one more unit of a specific input, whilst holding other inputs constant.
Total Product
The total output of goods or services produced by a firm during a given period of time.
Diminishing Marginal Returns
A principle stating that as more of a production input is added, holding all others constant, the resulting additional output will eventually decrease.
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