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Melissa has just told her supervisor,"I'm so glad I bought the Samsung Galaxy S II rather than those other smartphones I was considering.I can do my e-mail,access my music,and even search the Internet with it.It's like having a mini-computer in my pocket." Which stage of the consumer purchase decision process is demonstrated by Melissa's conversation?
Average Product
The output per unit of input, such as labor or capital, used in the production process.
Marginal Productivity Theory
A principle in economics that suggests that the addition of a unit of labor or capital leads to a change in output, essentially quantifying the extra output produced by adding one more unit of a resource.
Equilibrium Value
The price and quantity at which the supply of an item equals the demand for that item, achieving a balance in the market.
Marginal Product
The additional output that is produced as a result of utilizing one more unit of a variable input, holding other inputs constant.
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