Examlex
Use partial derivatives to find the implicit derivative .
Marginal Revenue Product
The additional revenue generated by employing one more unit of a factor of production, holding other factors constant.
Total Revenues
The total amount of income generated by the sale of goods or services related to a company's primary operations.
Marginal Revenue Product
The additional revenue generated from using one more unit of a factor of production, holding all other factors constant.
Law of Diminishing Returns
This economic law states that after a certain point, successive increments of a single factor of production yield progressively smaller increases in output.
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