Examlex
Which of the following best captures the main difference between job analysis and job design?
Diminishing Returns
The principle stating that if one factor of production is increased while others remain constant, the overall returns will initially increase but there will come a point where the added benefits will start to decrease.
Increasing Returns
An increase in firm’s output by a larger percentage than the percentage increase in its inputs.
MC
Marginal Cost, the change in total production cost that comes from making or producing one additional unit.
ATC
Average Total Cost, which is the total cost divided by the number of goods produced, representing the per-unit production cost.
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