Examlex
Identify and give the historical significance of each of the following terms, events, and people in a paragraph or two.
-Freedom Train
Marginal Revenue Product
The additional revenue generated by employing one more unit of a factor of production, holding all other factors constant.
Rent
The price paid for the use of property or land by one party to another under the terms of a lease agreement.
Marginal Physical Product
The additional output that is produced by adding one more unit of a specific input, holding all other inputs constant.
Total Revenue
The total amount of money received by a company from its sales of goods or services.
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