Examlex
Which of the following should be encouraged for parents of children who participate in sports?
Output
Output refers to the total quantity of goods and services produced by an economy or business in a specific period.
Marginal Product
The supplementary yield achieved by the utilization of one additional unit of a variable factor, with all other resources remaining fixed.
Fixed Cost
Costs that do not vary with the level of production or sales, such as rent or salaries, over a relevant period.
Variable Cost
Refers to expenses that vary directly with the level of production or output, such as raw materials and labor costs.
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