Examlex
Which situation may result from genetically modifying foods?
Average Product
The average amount of output produced per unit of a specific input, like labor or capital, over a certain period.
Diminishing Returns
The principle stating that if one factor of production is increased while others remain constant, the overall returns will initially increase but will eventually decrease after a certain point.
Unit Of Labor
A measure of labor input, often referred to as one hour of work by an employee or worker.
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