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The question below refers to the following situation:
Below are the results of a cross-tabulation regarding the relationship between location of residence and an individual's fear of being a victim of a violent crime:
What are the degrees of freedom?
Diminishing Marginal Returns
A principle stating that after an optimal point, further increases in one input while holding others constant will result in smaller and smaller gains in output.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a variable input.
Marginal Physical Product
The additional output produced by using one more unit of a variable input, holding all other inputs constant.
Marginal Revenue Product
The additional revenue generated by employing one more unit of a factor of production, such as labor or capital.
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