Examlex
The long-run Phillips curve is
Diminishing Returns
An economic principle that states as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot increase proportionally.
Negative Returns
A situation in which additional investment or effort results in a decrease in output or performance, contrary to typical expectations for growth or improvement.
Marginal Cost
The additional expenditure involved in producing one further unit of a product or service.
Fixed Cost
Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance expenses.
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