_____ Exists When Managers See Potential of Enhancing Performance Beyond

question 120

Short Answer

_____ exists when managers see potential of enhancing performance beyond current levels.

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Definitions:

Input

Resources used in the process of production, including raw materials, labor, and capital.

Marginal Revenue Product

The additional revenue generated from using one more unit of input.

Marginal Product

The extra output generated from increasing a particular input by one unit while keeping all other inputs unchanged.

Output

The total amount of goods or services produced by a firm or economy over a specific period of time.