Examlex
Punishment in the form of imprisonment has been defended as a method of enhancing public safety by incapacitating dangerous predators.
Total Income
The sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings received by an individual or organization.
Marginal Product
The additional output that is produced by adding one more unit of a particular input, while holding other inputs constant.
Wage Rate
The amount of money paid to an employee per unit of time or output, commonly expressed as an hourly rate.
Diminishing Marginal Product
The property whereby the marginal product of an input declines as the quantity of the input increases.
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