Fill in the correct labels for the following figure using the word bank below.
-G __________
Definitions:
Expansion Path
In economics, the curve that shows how a firm's production changes as it increases inputs, keeping the input mix proportionate.
Marginal Product
The additional output obtained by employing one more unit of a specific input, keeping all other inputs constant.
Perfect Substitutes
Two goods for which the marginal rate of substitution of one for the other is a constant.
Labor Costs
The total sum of all wages, benefits, and taxes that businesses must pay for employing workers.
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