Examlex
Justin is a nurse manager in a rehabilitation unit in a small urban centre.There is a high turnover rate among rehabilitation assistants because of the heavy work assignments.Justin decides to hire new staff in the order that applications are received until all vacant positions are filled.Which of the following decisions did Justin make?
Efficient Level
The point at which an entity is operating at maximum productivity with the least waste of resources.
Producing Firm's Spillovers
External effects that a company's actions have on other parties or the economy without financial compensation.
Full Costs
The total costs associated with the production of goods or services, including both fixed and variable costs.
External Costs
Costs incurred by third parties who are not directly involved in a transaction or economic activity, such as environmental pollution affecting the community.
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