Examlex
Judges use proximate cause to limit the scope of a defendant's liability to a subset of the total number of potential plaintiffs that might have been harmed by the defendant's negligence.
Production Process
The series of steps and activities involved in transforming raw materials into finished goods or services.
MRTS
The Marginal Rate of Technical Substitution; the rate at which a firm can substitute one input for another while keeping the level of output constant.
Marginal Productivity
Marginal productivity refers to the additional output produced as a result of adding one more unit of a specific input, keeping all other inputs constant.
Fixed-Proportion
A production scenario where the input proportions cannot be changed; each unit of output requires the same ratio of inputs.
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