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The most efficient way to encourage the growth of an infant industry is through
Average Product
The total output produced per unit of a factor of production, calculated as total product divided by the quantity of the factor used.
Marginal Product
The additional output produced by adding one more unit of a specific input, while holding other inputs constant.
Production Possibilities
Various combinations of the amounts of different goods that can be produced within a given economy, given technological constraints and available resources.
Isocost Line
A graph line representing all combinations of a firm's inputs that cost the same total amount.
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