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Marginal Productivity
The additional output generated by employing one more unit of a particular resource, while holding other inputs constant.
Returns to Scale
The rate at which production output increases in response to proportional increases in all inputs.
Average Cost
The average cost is the total cost of production divided by the number of units produced, reflecting the cost per unit of output.
Marginal Cost
The supplementary expenditure required to produce an extra unit of a product or service.
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