Examlex
A weighted average of the value of a random variable, where the probability function provides weights, is known as _____.
Marginal Product
An increase in output resulting from the use of one more unit of a particular input, holding all other inputs constant.
Opportunity Costs
The price paid when one skips the second-best option available in making a choice.
Economic Costs
The total costs of undertaking an economic activity, including both explicit costs and opportunity costs.
3-D Printers
Devices that create three-dimensional objects by layering material according to digital models, used in various industries for prototyping, manufacturing, and hobbyist projects.
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