Consider a Firm That Produces Output Using Labor and Capital

question 34

Multiple Choice

Consider a firm that produces output using labor and capital. The firm's stock of capital is fixed and in order to increase output, it must employ more workers. Which of the following occurs as the number of workers increases?

• A) Output per worker rises.
• B) Capital per worker falls.
• C) Wage per worker falls.
• D) Total output increases exponentially.

Understand the role of emotional and logical reasoning in creating persuasive claims.

Strategize the development of marketing and sales messages for mobile commerce and social media.

Identify ethical considerations in persuasive communication.

Recognize the impact and opportunities of mobile marketing and commerce.

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Definitions:

Decision

The process or act of making a choice or judgement among several alternatives.

Purchase Aspect

The considerations and factors that influence a buyer's decision to acquire goods or services.

Trial Close

A sales technique where the seller asks a prospective buyer for feedback on a product or service before the final close.