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Chante Moolman
on Dec 19, 2024

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Increased resource productivity will, ceteris paribus, increase a firm's demand for an input.

Resource Productivity

The ratio of output (goods and services) produced per unit of resource input, used to assess the efficiency of resource use.

Ceteris Paribus

A Latin phrase meaning 'all other things being equal,' used in economics to isolate the effect of one variable on another by holding all other relevant factors constant.

  • Recognize how changes in resource productivity affect a firm's input demand.
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Robert MaguireDec 20, 2024
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