A Farm Can Produce 1,000 Bushels of Wheat Per Year

question 263

Multiple Choice

A farm can produce 1,000 bushels of wheat per year with two workers and 1,300 bushels of wheat per year with three workers.The marginal product of the third worker is _____ bushels.

• A)100
• B)300
• C)1,300
• D)2,300

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Definitions:

Cultural Fit

The alignment between an individual's beliefs, values, and behaviors and the core values and culture of an organization.

Environmental Scanning

The process of systematically collecting, analyzing, and interpreting data about trends, events, and conditions in the environment that might affect an organization's future.

Consumer Ethnocentrism

The belief held by some consumers that purchasing foreign-made products is wrong or harmful to the local economy.

Major External Factors

Key influences originating outside of an organization that can significantly impact its performance and strategy, such as economic, social, technological, and political conditions.