Examlex
Keynes believed that changes in autonomous spending were dominated by unstable fluctuations in ________,which are influenced by emotional waves of optimism and pessimism-factors he referred to as "animal spirits."
Profit-maximizing
The process of adjusting the production and sale of goods and services to achieve the highest possible profit.
Marginal Product
The additional output gained by adding one more unit of a specific input, holding all other inputs constant.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a resource, such as labor or capital.
Variable Input
An input whose quantity can be changed in the short term by a firm to adjust the level of output.
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