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The pressure in a container of gas connected to an open-end mercury manometer in which the mercury level is 22 cm lower in the side open to the atmosphere and the atmospheric pressure is 734 mm Hg is ________ mm Hg.
Diminishing Returns
A rule that asserts when one input in the production process is augmented and the rest remain unchanged, the resultant extra production will ultimately diminish.
Marginal Revenue Product
The additional revenue generated by employing one more unit of input, such as labor or capital.
Economic Rent
The excess payment made for a factor of production over its opportunity cost.
Total Supply
The total amount of a product or service available for purchase at any given price point.
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