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input


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The services of factors of production and usage of fuels, materials, and intermediate products necessary for a process of production. The relation of output to the use of various inputs is shown by a production function. Inputs may be required in fixed proportions, or may be substitutable for one another. Where inputs are substitutable, profit maximization requires using the cheapest set of inputs that will produce any given set of outputs.

Subjects: Economics — Environmental Science.


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