Technical Efficiency Is Achieved When a Firm Produces

question 136

Multiple Choice

Technical efficiency is achieved when a firm produces

• A)At an amount indicated by a point on the production function.
• B)Below the opportunity cost for the resources it uses.
• C)Enough output to cover the opportunity cost of resources.
• D)An amount less than or equal to the production function.

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Definitions:

Localization

Adapting pay and other compensation benefits to match those of a particular country.

Balance Sheet Approach

A method used in international human resources that is focused on equalizing the cost differences for employees on international assignments to ensure their purchasing power is maintained across different countries.

Repatriation Plan

A strategy designed to assist employees in transitioning back to their home country after completing an international assignment.

Career Positions

Employment roles that offer a path of progression, often requiring specific skills and offering long-term employment.