Standardized Norm-Referenced Assessment of Cognitive Abilities; the Indirect Measurement of the Construct

question 68

Short Answer

Standardized norm-referenced assessment of cognitive abilities; the indirect measurement of the construct of intelligence.

Recognize the significance of opportunity costs in profit-maximizing firm decisions.

Explain the impact of economies and diseconomies of scale on firm's cost structures.

Understand the factors contributing to diseconomies of scale within large management structures.

Explain the conditions under which firms experience economies of scale.