Examlex
Evaluate the function at the indicated value of x.Round the result to three decimal places.
Function
Value
Variable Factor
An input in production that can be varied in the short term, such as labor or raw materials, in contrast to fixed factors like machinery or land.
Factor Of Production
An input used in the production of goods or services in order to make an economic profit. The primary factors include land, labor, capital, and entrepreneurship.
Marginal Revenue Product
The increased earnings resulting from the utilization of one more unit of an input or resource in production.
Market Wage
The prevailing pay rate for work of a specific nature in a particular geographic area, determined by the supply and demand for labor.
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