Examlex
The ""get tough"" approach whereby some states have allowed for punishment of violent delinquents through the use of mandatory secure confinement has been implemented by changes in:
Long Run
A period of time in which all factors of production and costs are variable, allowing for full adjustment to change.
Marginal Cost Curve
The marginal cost curve graphically represents how the cost of producing one additional unit of a good changes as production volume varies.
Marginal Product
The increased output achieved by adding one more unit of a certain input, with all other inputs held steady.
Marginal Cost
The cost of producing one additional unit of a good or service, used in decision-making on production levels.
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