Examlex
What are the three steps that should be used to construct dollar estimates of indirect benefits?
Marginal Rate
The rate of change of a variable as another variable changes, typically used in the context of taxes, substitution, or transformation rates.
Technical Substitution
The process of replacing one technique or technology with another that is more efficient or cost-effective.
Marginal Products
The additional output produced as a result of adding one more unit of a specific input, while holding other inputs constant.
Isoquants
Curves that represent combinations of inputs that yield the same output, used in the analysis of production technology.
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