Examlex
When you tell an acquaintance your telephone number,you do not recite the digits one by one at a constant rate,as in "3,3,7,2,3,4,8,3,9,2." Rather,you might say,"3,3,7 ...2,3,4 ...83,92." This exemplifies _____,a strategy to enhance _____ memory.
Units of Labor
Measurements used to quantify the work input by labor forces, often referring to hours worked or number of workers.
Diminishing Returns
A principle stating that if one input in the production of a commodity is increased while all other inputs are held fixed, a point will eventually be reached at which additions of the input yield progressively smaller, or diminishing, increases in output.
Marginal Product Curve
A graphical representation that shows how the addition of one more unit of a resource to production affects the output of a product.
Total Product Curve
A graphical representation showing how the total quantity of output varies with changes in the quantity of a single input while other inputs are held constant.
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