Which of the Following Is a True Statement About OSHA's

question 97

Multiple Choice

Which of the following is a true statement about OSHA's voluntary consultation program?

• A)Firms are charged a one-time fee for consultations.
• B)Safety inspections are handled by federal employees.
• C)Inspections that uncover citations trigger small penalties.
• D)The consultation program is separate from OSHA inspections.

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Definitions:

Average Variable Cost

The variable costs associated with production, when divided by the number of units produced, indicate the cost per unit.

Marginal Cost

The cost of producing one additional unit of a good or service, an important concept in economics for determining the optimal level of production.

Average Total Cost

The total cost to produce a given quantity of output divided by the quantity of output produced; it includes all opportunity costs.

Diminishing Marginal Returns

Refers to a point in production where adding an additional factor of production results in a smaller increase in output.