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Describe three different types of benchmarks used in ratios.
Marginal Product
The additional output gained by employing one more unit of a specific input, holding all other inputs constant.
Market Wage
The average wage earned by workers in a specific market or industry, determined by the supply and demand for labor in that market.
Market Price
The current price at which an asset or service can be bought or sold in a particular market, determined by supply and demand forces.
Make Money
The process of earning a financial profit or income.
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