Examlex
Suppose advances in computer technology lead to a surge in worker productivity. In the long run,output will ________ and the price level will ________.
Marginal Product
The additional output produced when one additional unit of an input is employed, with all other factors remaining constant.
Total Product
The total output of goods and services produced by a firm during a specific period.
Total Product
The overall quantity of output produced by a firm during a given period of time.
Marginal Product
The additional output that can be produced by adding one more unit of a specific input, while keeping other inputs constant.
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