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Production Function
A mathematical relation between quantities of input and output in production, specifying the maximum output achievable from different combinations of input.
Total-Cost Curve
A graphical depiction showing the total cost of producing different levels of output, illustrating the relationship between production volume and total costs.
Production Possibilities Frontier
A graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.
Agreeableness
The trait of being good-natured, cooperative, and trusting.
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