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Before 1860 Southerners Had

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Before 1860 southerners had


Definitions:

Marginal Products

The additional output produced as a result of utilizing one more unit of a particular input.

Marginal Product

It is the increase in output that results from a one-unit increase in the input, keeping all other inputs constant.

Average Product

The output per unit of a particular input, such as labor or capital, calculated by dividing total product by the quantity of input.

Average Product

The output produced per unit of input used, typically calculated by dividing total product by the quantity of input.

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