Examlex
fill in the blanks.
-The length of the longest simple circuit in is ____.
Returns to Scale
The rate at which output increases in response to proportional increases in all inputs.
Production Function
An equation or graph that shows the output generated from different combinations of inputs, usually focusing on labor and capital.
Marginal Product
The increase in output that results from an additional unit of input.
Returns to Scale
Refers to the rate at which output increases as inputs are proportionately increased, categorizing into increasing, constant, or decreasing returns.
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