Examlex
The tendency for similar stimuli to elicit the same response is referred to as:
Marginal Products
The incremental output generated when one unit of a certain input is added, with all other conditions being held steady.
Substitute Labor
involves using alternative workforce options, such as temporary or gig workers, in place of regular employees to perform tasks or jobs.
Price of Capital
The cost of using capital assets, reflected in the interest rate or rate of return that investors demand for using their capital.
Total Product
The overall quantity of output that a firm produces, usually in a given period of time, measured in terms of units.
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