Examlex
Which outcome results from the process of randomization?
Labor
The human effort, physical or mental, used in the production of goods and services.
Marginal Product
Marginal Product is the additional output resulting from the use of one more unit of a production input, holding all other inputs constant.
Units of Output
The quantities of a good or service produced by a firm or economy.
Diminishing Returns
is an economic principle stating that if one input in the production of a commodity is increased while other inputs are held fixed, a point will eventually be reached at which additions of the input yield progressively smaller, or diminishing, increases in output.
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