Examlex
Which of the following is a valid argument against regulatory capture?
Technological Improvements
Innovations and advancements in technology that enhance productivity, efficiency, and quality of goods and services.
Productivity
The measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.
Average Product
The output per unit of input, such as labor or capital, calculated by dividing total output by the total quantity of the input.
Marginal Product
The additional output produced as a result of using one more unit of a particular input, holding all other inputs constant.
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