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According to the economic theory of progressivism, a nation's prosperity depends on the amount of its capital, represented by bullion, and by the volume at which its exports exceed its imports.
Marginal Products
The additional output that results from using one more unit of a production input, keeping all other inputs constant.
Total Product
Total Product refers to the overall quantity of output that a firm produces, usually with respect to a given quantity of inputs over a specific period of time.
Marginal Products
The additional output produced as a result of utilizing one more unit of a particular input.
Marginal Product
It is the increase in output that results from a one-unit increase in the input, keeping all other inputs constant.
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