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Lorena has been convicted of embezzlement. At her criminal hearing, she is remanded to home detention. She has to wear an ankle device that gives her a two-mile radius limit for movement. If she leaves this radius, the anklet will send a signal to the nearest police station and Lorena will be arrested and incarcerated. This scenario demonstrates the use of _____ in home confinement.
Marginal Product
The additional output produced by employing one more unit of a particular input, holding other inputs constant.
Rental Price
The cost associated with leasing or renting an asset, property, or service.
Capital Equipment
Long-term assets a business uses in the production of goods and services, such as machinery, buildings, and vehicles.
Equilibrium Wages
The salary level where the amount of work offered matches the amount of work sought in the employment market.
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