When Management Takes Steps to Make Sure New Hires Are

question 28

Multiple Choice

When management takes steps to make sure new hires are appropriate for the firm's culture,the manager is hiring for ________/job fit.

• A)person
• B)task
• C)staffing
• D)organization
• E)department

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Definitions:

Economic Profits

Economic profits are the surplus remaining after deducting both explicit and implicit costs from total revenue, reflecting the true profitability of a business.

Number of Firms

Refers to the total count of business entities participating in a particular market or industry.

Long-Run Equilibrium

a state in which all factors of production can be adjusted, and all firms in the market are making zero economic profits, reflecting a situation of perfect competition.

Marginal Cost

The change in total cost that arises when the quantity produced is incremented by one unit; essentially, the cost of producing one more unit of a good.