Increasing Marginal Returns to Labor Might Occur at Low Levels

question 188

Multiple Choice

Increasing marginal returns to labor might occur at low levels of labor input because of

• A) increasing average costs.
• B) differing factor proportions.
• C) increasing specialization of tasks.
• D) decreasing use of machinery and increasing use of technology.

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Definitions:

Balanced Scorecard

A strategic planning and management system that organizations use to align business activities to their vision and strategy by monitoring performance across four perspectives: financial, customer, internal processes, and learning and growth.

Performance Measures

Metrics used to evaluate the efficiency and effectiveness of actions or performances within an organization.

Merit Pay System

A compensation strategy that increases pay based on performance and achievements.

Advantages

Benefits or favorable factors that give an individual, group, or entity a better position or greater likelihood of success.