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Production Function
A mathematical representation of the relationship between input factors of production and the output of goods or services.
Marginal Product
The additional output that is produced as a result of using one more unit of a particular input, while keeping other inputs constant.
Marginal Product
The additional output resulting from the use of one more unit of a productive input, holding other inputs constant.
Production Function
An equation that describes the maximum output of a good achieved from a given number of inputs.
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