Examlex
Decision making = solving problems and/or seizing opportunities.
Diminishing Returns
The principle that adding an additional factor of production results in smaller increases in output after a certain point.
Marginal Costs
The expense associated with the production of an extra unit of a product or service.
Marginal Returns
The additional output that is produced as a result of increasing one more unit of an input while holding other inputs constant.
Marginal Cost
The additional cost incurred from the production of one more unit of a product or service.
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