A Firm Uses Workers and Seed to Grow Lettuce

question 126

Multiple Choice

A firm uses workers and seed to grow lettuce.Its lettuce output rises from 100 tons to 200 tons when the number of workers increases from 25 to 75.Its production process shows

• A)decreasing returns to scale.
• B)diminishing returns to labor.
• C)increasing long-run average cost.
• D)decreasing short-run average variable cost.

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Definitions:

Competency-Based Pay System

A compensation approach that rewards employees based on their skills, abilities, and achievements rather than their job title or position.

Skilled-Based

Relating to or focused on abilities and expertise rather than educational credentials or job titles.

Hourly Rate

The amount of money paid for each hour of work.

Equal Pay

The principle or practice of paying employees the same amount for the same or substantially similar work, regardless of their gender or another protected characteristic.