Examlex
What is the level of openness of the United States economy, based on 2016 data?
Marginal Product
The additional output that is generated by adding one more unit of a specific input, ceteris paribus.
Marginal Product
The additional output resulting from the use of one more unit of a variable input, holding all other inputs constant.
Production Possibilities
A curve that represents the maximum combination of goods or services that can be produced in a given period with available resources.
Marginal Product
The extra output generated from increasing a particular input by one unit, while all other inputs remain unchanged.
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