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Wage Rate
The amount of compensation paid to an employee per unit of time worked, often expressed as an hourly rate.
Marginal Physical Product
The additional output resulting from using one more unit of a physical input, holding other inputs constant, in the production process.
Total Revenue
The price of a good or service multiplied by the number of units sold.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a resource, factor of production, or input.
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