Examlex
The id operates according to the reality principle.
Marginal Product
The change in output that results from employing an additional unit of input, holding all other inputs constant.
Average Product
The output per unit of a particular input, such as labor or capital.
Optimal Production Technique
A method that contributes to the most efficient process of producing goods and services given the available resources and technology.
Price of Capital
The cost of using capital assets, including the interest or finance charges paid on borrowed funds or the opportunity cost of using owned capital.
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