Examlex
What does the term "marginal" mean in economics?
Minimize Costs
The process or strategy of reducing expenses to the lowest possible level while maintaining efficiency.
Last Dollar
The final unit of currency spent or invested in the completion of a transaction or project.
Marginal Product
The additional output produced by employing one more unit of a particular input, holding other inputs constant.
Wage
A fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee, especially to manual or unskilled workers.
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