The Optimal Plant Size Depends on

question 138

Multiple Choice

The optimal plant size depends on

• A) whether the firm confronts diminishing returns on its fixed factors of production.
• B) the output the firm expects to produce.
• C) whether the plant uses capital-intensive or labor-intensive production techniques.
• D) the preferences of the individual firm owners.

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Definitions:

Expected Results

Anticipated outcomes or performance measurements, based on planned activities, goals, or strategies.

Management Process

The five basic management functions of (1) planning, (2) directing, (3) controlling, (4) improving, and (5) decision making.

Basic Phases

Fundamental stages or steps in a process or cycle.

Supervising

The process of overseeing, directing, and managing the work and performance of individuals or teams to achieve organizational objectives.