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Referring to Informatica Domain Architecture, select the statement which is correct and true.
Marginal Product
This measures the additional output that is produced by adding one more unit of a specific input, keeping all other inputs constant.
Total Output
The entire quantity of goods or services produced by an individual, firm, industry, or economy within a specified period.
Implicit Costs
Costs that represent the value of resources used in production for which no direct payment is made.
Explicit Costs
Direct, out-of-pocket payments a firm makes to purchase the inputs it needs for production, such as wages, rent, and materials.
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