The Introduction of Automatic Elevator Equipment Allowed Firms to Handle

question 49

Multiple Choice

The introduction of automatic elevator equipment allowed firms to handle the movement of people in a multistory building at less cost, thus decreasing the demand for elevator operators.The best explanation for this change is that the

• A)marginal product of elevator operators was equal to its price.
• B)marginal product of automatic elevator equipment was equal to its price.
• C)marginal product of automatic elevator equipment divided by its price was greater than that for elevator operators.
• D)marginal product of elevator operators divided by its price was greater than that for automatic elevator equipment.Blooms: Understand

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Definitions:

Jointly Agreed

Reached through a cooperative process where all parties involved give consent to terms or decisions.

Human Resource Management

The strategic approach to the recruitment, management, development, and well-being of an organization's employees.

Subjective Performance

Evaluation of an employee's performance based on personal judgments rather than measurable outcomes.

Opinion

A personal view, attitude, or appraisal formed about something, not necessarily based on fact or knowledge.