Examlex
Which of the following is true of the cardiac cycle?
Average Product
The output per unit of input, calculated by dividing total output by total input.
Diminishing Marginal Returns
Diminishing Marginal Returns is an economic principle stating that as additional units of a factor of production are added to a fixed amount of other factors, the incremental increase in output will eventually decrease.
Marginal Product
The additional output that results from using one more unit of a specific input, keeping other inputs constant.
Third Worker
In the context of labor and production, refers to the addition of a third employee in a process, which can affect productivity differently depending on the scenario.
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