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Generally, all managers respond to external pressures for change in the same way.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a factor of production, such as labor.
Productivity
Productivity measures the efficiency of production in terms of the amount of goods and services produced from a given amount of inputs, such as labor and capital, within a specific period.
Derived Demand
Derived demand refers to the demand for a good or service that originates from the demand for another good or service.
Final Demand
The demand for finished goods and services by consumers, businesses, and government, excluding intermediate goods.
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