Examlex
One general grouping in your textbook lists four categories of local duties.Three are listed below.Which is NOT one of the duties discussed in your text?
Unit Of Labor
A measure of labor input, often referred to as one hour of work by an employee or worker.
Law Of Diminishing Returns
An economic principle stating that if one factor of production is increased while others remain constant, the overall marginal returns will eventually decrease.
Average Output
The total output produced divided by the number of units of input, measuring the efficiency or productivity of production.
Diminishing Marginal Returns
The principle that as an additional unit of a factor of production is added to a fixed amount of other factors, the increase in output will eventually decrease.
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