According to the Textbook, Which of the Following Is NOT

question 3

Multiple Choice

According to the textbook, which of the following is NOT a predictor score for a sales applicant

• A)cognitive ability test
• B)introversion scale
• C)structured interview
• D)reference check

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Definitions:

Economic Profit

The difference between total revenue and the total opportunity costs (both explicit and implicit) of all resources used.

Productive Efficiency

A situation where goods and services are produced at the lowest possible cost and resources are utilized most effectively.

Allocative Efficiency

A state of resource allocation where goods and services are distributed according to consumer preferences and in a way that maximizes social welfare.

Marginal Cost

The uptick in cost associated with producing an extra unit of a product or service.