Technological Advance Improves Productive Efficiency by

question 241

Multiple Choice

Technological advance improves productive efficiency by

• A)lowering average total cost.
• B)increasing marginal utility.
• C)enhancing monopoly power.
• D)giving society a more-preferred mix of goods and services.

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Definitions:

Turnover

The rate at which employees leave an organization and are replaced by new personnel over a certain period.

Lost Production

The quantity of goods or services that could have been produced but were not due to disruptions, inefficiencies, or other factors.

Realistic Job Previews

An informative process or approach used by organizations to give prospective employees a true picture of what to expect in a job.

Working Conditions

The environment and terms under which employees work, including hours, workplace safety, amenities, and ergonomics.