Examlex
When drawing a set of residential plans, where should you note all steel rebar and anchor devices?
Production Possibilities
Different combinations of goods and services that an economy can produce efficiently with its available resources and technology.
Diminishing Returns
The principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain constant.
Marginal Product
The increase in output resulting from a one-unit increase in the input of a production factor, holding all other inputs constant.
Marginal Product
The additional output resulting from one more unit of a given input, holding all other inputs constant.
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