Examlex
Since Taylor was the sole contributor in the area of scientific management, he was awarded the title of "father of scientific management."
Fixed Input
An input whose quantity does not change with the level of output in the short run.
Marginal Product
The additional output that is produced by using one more unit of a variable input, holding all other inputs constant.
Variable Input
An input in the production process that varies with the level of output, such as labor or raw materials.
Marginal Product
The increase in output resulting from a one-unit increase in the use of a particular input, while holding other inputs constant.
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