Examlex
For entry-level jobs, the mean validity coefficient for ability tests is about
Law of Diminishing Returns
An economic principle stating that adding more of one factor of production, while keeping others constant, will at some point yield lower per-unit returns.
Marginal Product
The additional output produced as a result of utilizing one more unit of input, holding all other inputs constant.
Total Product
The total quantity of output produced by a firm or an economy within a certain period, often considered in relation to inputs used.
Marginal Product
The additional output derived from employing one more unit of a particular input, while other inputs are held constant.
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