Examlex
Which of the following statements is true of infomercials?
Wage
The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, made by an employer to an employee, especially to manual or unskilled workers.
Diminishing Returns
A principle stating that adding an additional factor of production results in smaller increases in output.
Marginal Product
The additional output resulting from the use of one more unit of a factor of production.
Labor
Human effort used in the production of goods and services.
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