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Output
The total amount of goods or services produced by a business, industry, or country.
Isoquant
A curve representing all combinations of inputs that produce the same level of output, used in the analysis of production decisions.
Slope
The measure of the steepness or incline of a line, representing the ratio of the vertical change to the horizontal change.
Production Function
Describes the relationship between inputs used in production and the resulting output, showing how factors like labor and capital are transformed into goods or services.
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