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The Idea That Containerized Ocean Cargo Needs to Take a Shortcut

question 31

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The idea that containerized ocean cargo needs to take a shortcut across a landmass by rail has resulted in the development of


Definitions:

Diminishing Returns

The principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain constant.

Marginal Product

The increase in output resulting from a one-unit increase in the input of a production factor, holding all other inputs constant.

Marginal Product

The additional output resulting from one more unit of a given input, holding all other inputs constant.

Average Product

The output per unit of input, measured by dividing the total product by the quantity of input.

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