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Law of Diminishing Marginal Returns
As additional units of a variable input (e.g., labour) are added to fixed inputs (e.g., land), the marginal product increases by less and less each time, eventually decreasing.
Law of Supply
There is a direct, positive relationship between price and quantity supplied.
Marginal Cost
The cost of producing an additional unit of output
Marginal Product
The additional output that results from adding one extra unit of a variable input (e.g., labour).
Supply
The quantity of a good or service a firm (or multiple firms) is willing and able to produce for a given price in a given time period, ceteris paribus.