Examlex
When taking a test, a helpful strategy that can aid recall of information is to go through the alphabet, trying each letter as the first sound of a name or word you are seeking.
Diminishing Marginal Returns
A principle in economics that indicates a decreasing level of incremental output for each additional unit of input, after a certain point.
Total Product
The aggregate quantity of output produced by an economic unit from a given set of inputs during a specific period of time.
Variable Cost
Costs that change in direct proportion to changes in a firm’s level of production.
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