Which of the Following Is an External Factor That Can

question 89

Multiple Choice

Which of the following is an external factor that can influence the rates at which employees are paid?

• A) collective bargaining
• B) the employer's ability to pay
• C) the employees' relative worth
• D) the worth of the job

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Definitions:

Average Variable Cost

entails the calculation of the unit cost for variable expenses associated with production, adjusted for changes in output levels, providing insight into economies of scale.

Marginal Revenue

The increased earnings obtained by selling an additional unit of a good or service.

Average Fixed Cost

Unchanging production costs relative to output levels, per unit of output produced.

Average Variable Cost

The total variable cost divided by the quantity of output, representing the variable cost per unit of output.