Examlex
If a manager clearly and articulately verbalizes instructions to a subordinate,communication is said to have taken place.
Marginal Product
The additional output gained by employing one more unit of input, holding the levels of other inputs constant.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a resource or factor of production.
Competitive Market
A market structure characterized by a large number of sellers and buyers, none of whom can influence the market price on their own.
Unit of Output
The individual item or specific quantity of a product produced by a company or an economic sector.
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