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In the following production function: Y = f(L | K, A, M) :
Marginal Productivity
The additional output that is produced by utilizing one more unit of a variable input, holding all other inputs constant.
Marginal Product
The additional output produced by employing one more unit of a particular input, holding other inputs constant.
Rental Price
The cost associated with leasing or renting an asset, property, or service.
Capital Equipment
Long-term assets a business uses in the production of goods and services, such as machinery, buildings, and vehicles.
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