Examlex
How can ABC information be used to manage constrained resources?
Marginal Revenue Product
The additional revenue generated by employing one more unit of input, such as labor or capital.
Economic Rent
The excess payment made for a factor of production over its opportunity cost.
Total Supply
The total amount of a product or service available for purchase at any given price point.
Henry George
A 19th-century economist known for his belief that people should own the value they produce but that land and natural resources should belong to the community.
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