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