Examlex
Given the following data set, what is the ranking of the data value 28? Presume that lower data values rank ahead of higher data values.
31, 28, 21, 34, 38, 33, 16, 28
Factor of Production
Resources used in the creation of goods and services, which include land, labor, capital, and entrepreneurship.
Total Income
The full amount of income received by an individual or a country, including wages, salaries, benefits, and income from investments before any deductions.
Marginal Product
Marginal product is the addition to total output produced by using one more unit of a specific input, holding all other inputs constant.
Marginal Revenue
The change in total revenue generated by an additional unit of output.
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