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Markets can efficiently handle irreversible decisions without involvement of government.
Marginal Product
The additional output that results from using one more unit of a factor, keeping other factors constant.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a factor, such as labor or capital, in the production process, critical for decision-making in resource allocation.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a factor input, considering other factors constant.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a resource or factor of production.
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