Examlex
The goal of statistical process control (SPC) is to help identify and eliminate unwanted causes of variation.
Marginal Products
The additional output that is produced by employing one more unit of a particular input while holding the quantities of all other inputs constant.
Exponents
Mathematical notations indicating the number of times a base number is multiplied by itself.
Production Function
A mathematical representation that describes the relationship between inputs used in production and the output achieved.
Returns To Scale
A term in economics that describes how the change in the amount of input affects the change in output of a production process.
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