Examlex
The time needed to process a given set of jobs is called
Labor Costs
The total expenses incurred by companies for the payment of wages, benefits, and taxes associated with the employment of labor.
Capital Costs
Expenditures for acquiring fixed assets such as buildings, machinery, and equipment, or the costs associated with improving existing assets.
Marginal Product
The rise in production resulting from one more unit of input.
Price of Labor
The compensation workers receive for their contribution to the production process, often synonymous with wage rate.
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