Examlex
If your 13-month-old child uses the title "grandpa" to refer to all older men, she is exhibiting a common language tendency called ____.
Average Product
The output per unit of input, calculated by dividing total product by the quantity of input.
Factor of Production
Resources used in the creation of goods and services, which include land, labor, capital, and entrepreneurship.
Total Income
The full amount of income received by an individual or a country, including wages, salaries, benefits, and income from investments before any deductions.
Marginal Product
Marginal product is the addition to total output produced by using one more unit of a specific input, holding all other inputs constant.
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