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When the 65-year-old patient who is a type 1 diabetic informs the home health nurse that he now exercises for 1 hour a day at a club, the nurse cautions him to be sure to
Diminishing Returns
A principle stating that if one factor of production is increased while other factors are held constant, the output per unit of the variable factor will eventually decrease.
Fixed Resources
Assets and inputs in production that remain constant regardless of the level of output.
Diseconomies of Scale
A condition in which a firm experiences an increase in average costs as it increases its output, due to factors such as inefficiencies or complexity.
Marginal Product
The change in total output that results from the employment of one additional unit of a resource.
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