Examlex
Which of the following is NOT a characteristic of just-in-time production?
Marginal Product
The additional output that is produced by using one more unit of a variable input, holding all other inputs constant.
Variable Input
An input in the production process that varies with the level of output, such as labor or raw materials.
Marginal Product
The increase in output resulting from a one-unit increase in the use of a particular input, while holding other inputs constant.
Average Product
The output produced, on average, by each unit of a variable input, such as labor or capital, in the production process.
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