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In the production function,Y = zF(K,Nd) ,total factor productivity is
Marginal Utility
The additional satisfaction or utility a consumer gains from consuming one more unit of a good or service.
Hypothetical Consumer
A theoretical representation of an average consumer used in economic models to predict buying behavior and market dynamics.
Consumer Income
The total earnings of an individual or household from all sources, influencing their purchasing decisions.
Maximum Quantity
The highest amount of a product or resource that can be produced, obtained, or allocated under specific conditions.
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