Lee Wants to Be a Market Researcher

question 67

Multiple Choice

Lee wants to be a market researcher. In order to learn more about the job, he has accepted an internship for next semester at a marketing research firm. Which of the following statements describes why the firm would be willing to use the internship program as one of its training activities?

• A) Interns earn less than fully-trained employees.
• B) Internship programs provide vicarious learning.
• C) Internship programs expose potential employees to the real jobs they would perform is hired.
• D) Internship programs are informal.
• E) All of the above describe reasons why the marketing research firm uses internship programs as part of its training activities.

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Definitions:

Decreasing Returns to Scale

A situation in which, as the scale of production increases, the output increases at a proportionally smaller rate, leading to increased average costs.

Long Run Average Cost Curve

A graphical representation showing the minimum average cost at which any output level can be produced in the long term when all inputs, including capital, are variable.

Increasing Returns to Scale

A situation in which a proportionate increase in all inputs leads to a greater proportional increase in output, indicating improved production efficiency.

Diminishing Marginal Returns

A principle stating that if one factor of production is increased while others remain constant, the overall returns will gradually decrease after a certain point.