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factors of production
the inputs used to produce goods and services
the relationship between the quantity of inputs used to make a good and the quantity of output of that good
marginal product of labor
the increase in the amount of output form an additional unit of labor
diminishing marginal product
the property whereby the marginal product of an input declines as the quantity of the input increases
value of the marginal product
the marginal product of an input times the price of the output
the equipment and structures used to produce goods and services
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