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The price of gasoline was much higher in 2007 than in 2003 because
Marginal Revenue Product
The additional revenue generated from employing one more unit of a factor of production, such as labor or capital.
Employment
Refers to the condition of having a paid job or being engaged in an activity that generates income.
Complement Labor
Labor types or skills that enhance or supplement each other in the production process, increasing overall productivity.
Marginal Product
The additional output produced as a result of employing one more unit of a particular input, holding other inputs constant.
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