Examlex
Conservatives view of society included all of the following except
Returns To Scale
A term in economics that describes how the change in the amount of input affects the change in output of a production process.
Production Function
Describes the relationship between the quantities of inputs used in production and the quantity of output produced, illustrating how input changes affect output.
Returns To Scale
Refers to how the output of a production process changes as all input quantities are scaled up or down.
Marginal Products
The additional output that is produced by employing one more unit of a specific input, while keeping other inputs constant.
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