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Marginal Product
The growth in productivity that occurs when an extra unit of input is added, with all other inputs remaining the same.
Profit
The financial benefit realized when revenue generated from business activities exceeds the expenses, costs, and taxes needed to sustain the operation.
Total Output
The total amount of goods and services produced within an economy at a given overall price level in a given time period.
Economies of Scale
Cost advantages reaped by companies when production becomes efficient, as the scale of the operation and output increases.