Examlex
If an object is moving at uniform speed in a straight line,its instantaneous velocity halfway through any time interval is
Output Level
Refers to the quantity of a product or service produced by a company or an economic sector within a specific period.
Average Product
The output per unit of input, calculated by dividing total production by the total quantity of input.
Labor
The work performed by humans that is used in the production of goods and services.
Diminishing Marginal Returns
An economic principle stating that as one factor of production increases while others remain constant, the incremental gains in output will eventually decrease.
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