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Performance evaluation systems are a way for management to control the organization.
Marginal Revenue Product
The extra income produced by using an additional unit of a production input.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a factor of production, such as labor or capital.
Marginal Revenue Product Curve
A graph that illustrates the additional revenue generated from employing one more unit of a resource.
Variable Input
relates to a production factor that can be adjusted in the short term to change the level of output, such as labor or raw materials.
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