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How many millimeters are in 100 cm?
Total Cost
The sum of fixed and variable costs incurred by a business in the production of goods or services.
Marginal Physical Product
The additional output resulting from a one-unit increase in the quantity of a particular input, holding all other inputs constant.
Marginal Product
The extra output gained by incorporating one more unit of a given input in the production process, assuming all other inputs remain unchanged.
Average Product
The output per unit of input, calculated by dividing total product by the quantity of input.
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