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All things constant, a decrease in bus, train, and airplane fares will
Total Product
The total output or quantity of goods produced by a firm or economy at a given level of input.
Diminishing Returns
A principle stating that if one factor of production is increased while other factors are held constant, the incremental increases in output will eventually decrease.
Labor
The human effort, physical or mental, used in the production of goods and services.
Marginal Product
Marginal Product is the additional output resulting from the use of one more unit of a production input, holding all other inputs constant.
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