Examlex
Which of these elements is the most abundant in the universe?
Output
The amount of goods or services produced by a company, industry, or economy.
Function
A relation between a set of inputs and a set of permissible outputs, typically defined by a rule that every input is related to exactly one output.
Production Function
A mathematical model that describes the relationship between inputs used in production and the output generated from those inputs.
Marginal Product
The increase in output that results from a one-unit increase in the input of a particular resource, holding all other inputs constant.
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