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An Law Firm Purchases a $100,000 Computer System for Its

question 27

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An law firm purchases a $100,000 computer system for its accounting department.This is an example of a(n) :


Definitions:

Increasing Returns

The situation in which output increases by a larger proportion than the increase in inputs used in production.

Workers

Individuals who perform tasks or work for compensation, typically within the structure of employment by organizations or companies.

Marginal Product

The increase in output that results from employing one more unit of a particular input, holding all other inputs constant.

Total Product

The total quantity of output produced by a firm from a given quantity of inputs during a certain period of time.

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