The Change in a Firm's Total Cost from Producing One

question 213

Multiple Choice

The change in a firm's total cost from producing one more unit of a good or service is

• A)the result of economies of scale.
• B)the definition of marginal product
• C)the definition of marginal cost.
• D)impossible to observe in large firms with many manufacturing plants.

---

Definitions:

Equity Theory

A theory of motivation that suggests employees assess their job satisfaction and motivation by comparing their job inputs and outcomes with those of others.

Expectancy Theory

A motivational theory explaining that an individual's motivation is based on their expectations about their ability to perform tasks and receive desired rewards.

Employee Motivation

How much energy, commitment, and creative thought the workforce of a business displays in their job roles.

Goal Setting

The process of identifying specific, measurable, achievable, relevant, and time-bound objectives that guide the direction and focus of an individual or organization.