What Is One Use of Incidence Rates

question 140

Multiple Choice

What is one use of incidence rates?

• A) to make comparisons between comparable units within an organization
• B) to determine which supervisors run the most effective teams
• C) to identify and reprimand careless employees
• D) to note which employees need more training

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Definitions:

Total Cost

The sum of all costs incurred by a business in producing a given level of output, including fixed and variable costs.

Diminishing Marginal Returns

Describes a point in production where the addition of one more unit of input results in a less than proportional increase in output.

Per-unit Costs

Refer to the average cost for each unit of a product or service that is produced, including all relevant expenses.

Marginal Costs

The additional cost incurred by producing one more unit of a good or service.