In 2011,public Employees Who Worked for the State of Wisconsin

question 257

Multiple Choice

In 2011,public employees who worked for the state of Wisconsin were overruled by a vote in the state senate which disallowed these employees or their union representatives to negotiate with other decision makers on issues which affected their labor contracts.The new law directly affected their ______ rights.

• A)collective bargaining
• B)process negotiation
• C)collective insurance
• D)individual taxpayer

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Definitions:

Cost Function

A mathematical relationship that describes how the costs incurred by a firm vary with the level of output or activity.

Output

Refers to the quantity of products or services produced by a business, industry, or economy.

Marginal Cost

The increase in total cost that arises from an increase in production by one additional unit.

Average Variable Cost

The total variable cost of production divided by the quantity of output produced, representing the average cost of each unit of output when only variable costs are considered.