Examlex
The largest category of federal government expenditures is national defense.
Average Product
The total output produced per unit of a resource employed.
Marginal Product
The extra production resulting from the use of one additional unit of a specific input while holding other inputs steady.
Total Cost
The sum of all costs associated with the production or provision of a good or service, including fixed and variable costs.
Variable Cost
Expenses that vary in relation to the amount of production or operations.
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