Examlex
The use of antibiotics has resulted in the emergence of antibiotic-resistant bacteria. This is an example of
Marginal Product
The additional output that is produced by employing one more unit of a particular input, holding other inputs constant.
Market Price
The current price at which an asset or service can be bought or sold.
Profit-Maximizing
A strategic goal of businesses to achieve the highest possible profit through adjusting production levels, pricing strategies, and cost management.
Final Good
A good that is intended for final use by the consumer, distinct from intermediate goods which are used in producing other goods.
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