A pentathlon is a contest featuring five events. The name is derived from Greek: combining the words pente and -athlon. The first pentathlon was documented in Ancient Greece and was part of the Ancient Olympic Games. Five events were contested over one day for the Ancient Olympic pentathlon, starting with the long jump, javelin throwing, and discus throwing, followed by the stadion and wrestling. Pentathletes were considered to be among the most skilled athletes, and their training was often par
Economic Definition of aggregate production function. Defined. Term aggregate production function Definition: A relation between the total production of real output for an economy and the amount of labor input.
3. The marginal product of capital (MPK) is the output produced per unit of additional capital. The MPK can be shown graphically using the production function. For a fixed level of labor, plot the output provided by different levels of capital; this is the production function.The MPK is just the slope of the production function. production function shows how much output can be produced with a given amount of capital and labor. The production function can shift due to supply shocks, which affect overall productivity. Examples include changes in energy supplies, technological breakthroughs, and management practices.