Examlex
A firm that terminates employees during a laborer surplus suffers no consequences under federal law.
Average Product
The output per unit of input, calculated by dividing total production by the number of units of input.
Marginal Product
The additional output derived from the use of one more unit of a production input, while holding other inputs constant.
Technologically Efficient
A state of production where it is not possible to increase the production of one good without decreasing the production of another, given current technology.
Autos Assembled
The total count or volume of automobiles manufactured and put together in a production process within a specific time frame.
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