Examlex
The measure of central tendency that identifies the value that occurs most often is called the:
Output
The total amount of goods or services produced by a company, industry, or economy.
Production Function
An equation, table, or graph that indicates the maximum output a firm can produce with a given set of inputs, under certain technological constraints.
Returns To Scale
The rate at which production output increases in response to a proportional increase in all inputs (labor, capital, etc.).
Production Function
An equation that describes the relation between inputs used in production and the output resulting from their use.
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