ASE-Style Multiple Choice While Having a Discussion, Technician a Says

question 36

Multiple Choice

ASE-Style Multiple Choice While having a discussion, Technician A says that if you want to start your own successful business, you need to understand personnel management and bookkeeping. Technician B says that you should understand payroll and state and local laws controlling the industry. Who is correct?

• A)A only
• B)B only
• C)Both A and B
• D)Neither A nor B

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Definitions:

Marginal Costs

Marginal costs represent the change in total production cost that arises when the quantity produced is incremented by one unit, essentially the cost of producing one additional unit of a good.

Marginal Productivity

Marginal productivity is the additional output that is produced by using one more unit of a certain input, assuming that all other inputs remain constant.

Total Output

The complete quantity of goods or services produced by a company, sector, or economy within a given period.

Extra Inputs

Additional resources or factors of production, such as labor or materials, that are used to increase output or efficiency.