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Peter is conducting research that is aimed at formulating a combustion process that could be used in commercial vehicles so that vehicles could run on water. Peter's research is an example of _____.
Output
The total quantity of goods or services produced by an individual, firm, or country within a certain period.
Diminishing Marginal Returns
A principle in economics that indicates a decreasing level of incremental output for each additional unit of input, after a certain point.
Total Product
The aggregate quantity of output produced by an economic unit from a given set of inputs during a specific period of time.
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