Examlex
Most 3-year-olds are within eight to ten pounds of each other in terms of weight. By the age of 10, children's weights
Output
The aggregate output of merchandise or services generated by a company, sector, or economic system.
Production Function
A mathematical model describing the relationship between the inputs used in production and the resulting output of goods or services.
Returns To Scale
The change in output as a result of a proportional change in all input factors in the production process.
Marginal Product
The additional output resulting from the use of one more unit of a production factor, holding other factors constant.
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