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A person has a fracture.The bone is broken but the skin is intact.The person has:
Law of Diminishing Returns
An economic principle stating that adding more of one factor of production, while holding others constant, will at some point yield lower per-unit returns.
Fixed Factor
An input in the production process that cannot be changed in the short term, such as premises or machinery.
Output Decreasing
A situation where the quantity of goods or services produced by an economy or firm is reducing over time.
Marginal Revenue
The additional income earned by selling one more unit of a good or service, crucial for determining optimal output levels.
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