All Individuals Who Could Possibly Have an Interest in an Open

question 8

Multiple Choice

All individuals who could possibly have an interest in an open position and who might consider applying for a position opening are known as:

• A)the potential applicant population.
• B)the applicant pool.
• C)the job candidate pool.
• D)the potential applicant screen.

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Definitions:

Demand Curve

A graph showing the relationship between the price of a product and the quantity of the product that consumers are willing and able to purchase at that price.

Substitute Good

A product or service that a consumer can use in place of another to satisfy the same need or desire.

LRMC

Long-Run Marginal Cost, which refers to the change in total production costs that comes from producing one additional unit of a good or service when all inputs are variable.

SRMC

Short-Run Marginal Cost (SRMC) is the cost to produce one additional unit of output when some inputs are fixed.