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Figure: The Market for Clams
-(Figure: The Market for Clams) Use Figure: The Market for Clams.The government imposes a quota limiting sales of clams to 1 000 kilograms.According to the figure,the quota rent per kilogram in this case is:
Total Revenue Product
The overall income generated by a firm from selling its output, factoring in the quantity of output sold and the price per unit.
Marginal Physical Product
The additional output that results from using one more unit of a factor of production, keeping other factors constant.
Marginal Revenue Product
Marginal Revenue Product measures the increase in revenue realized from employing one additional unit of input, such as labor or capital, holding all other inputs constant.
Total Revenue Product
The total revenue product is the total revenue generated by a factor of production, such as labor or capital, based on its marginal product and the price of the goods or services produced.
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