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The Malthusian prediction of Paul Ehrlich in The Population Bomb in 1968 proved to be wrong because population growth
Marginal Returns
The additional output gained from increasing one unit of an input while keeping other inputs constant.
Output
The total amount of goods or services produced by a firm or country within a specific period.
Marginal Rate
The rate at which one variable changes with respect to a small change in another variable, often used in the context of taxation.
Technical Substitution
The process of replacing one combination of inputs or technologies with another to produce the same level of output.
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