Examlex
Which of the following is abbreviation of VRP?
Marginal Product
The additional output resulting from using one more unit of a particular input, holding all other inputs constant.
Unit of Labor
A measure of labor input, often referred to as one hour of work by an employee or worker.
Marginal Product
The additional output resulting from the use of one more unit of a production input.
Total Product
The total output of goods or services produced by a firm over a given period of time.
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