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Jaime has just pled guilty to cocaine possession. At first she claimed that the drugs weren't hers but figured the judge might be lenient if he knew that she had fought with cocaine addiction since she was 14 years old. Her parents are in the public spotlight and the publicity was just too much for her to handle so she left home when she was 16, certain that she could make it on her own. After living on the streets addicted to anything she could get her hands on, she finally went back home to seek help from her parents who put her in rehab about 6 months ago.
-Even though she is going to get help, Jamie feels like her sentence is a waste of time. Her probation officer asks a lot of questions when they meet. He asks questions about her family, her living situation, her relationships with others, and of course her triggers for using drugs. What is he doing
Marginal Revenue Product
The extra income derived from the use of an additional unit of a resource or input in production.
Input
Resources such as labor, materials, and capital that are used in the production process to create goods and services.
Derived Demand
is the demand for a good or service that results from the demand for another good or service. For instance, the demand for steel is derived from the demand for cars.
Factors of Production
The resources of land, labor, capital, and entrepreneurial ability.
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