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Mainstream macroeconomics has embraced the
Marginal Revenue Product
The additional revenue generated by employing one more unit of a factor of production, such as labor or capital.
Additional Revenue
The extra or incremental income received from selling one more unit of a product or service.
Input Hired
Resources or factors of production, such as labor, raw materials, and capital, employed in the creation of goods and services.
Complements in Production
Goods that are produced together in the production process; an increase in the production of one leads to an increase in the production of the other.
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