When the Cost of Producing a Unit of a Good

question 14

Multiple Choice

When the cost of producing a unit of a good decreases as its output rate increases, there are economies of

• A) scale.
• B) scope.
• C) production.
• D) size.

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Definitions:

Human Resource Planning

The process of forecasting an organization’s future demand for, and supply of, the right type of people in the right number.

Short-Term Change

Alterations or adjustments within an organization that are expected to take place or have effects over a brief period.

Forecasting Techniques

Various methods utilized to estimate or predict future trends based on current data and analysis, applicable in finance, weather prediction, supply chain management, and more.

Planned Change

A deliberate effort to improve a system or process according to a specific set of objectives.