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Acme Global uses four different selection tests: an honesty test, a skills test, a cognitive ability test, and an interview.Each test is worth 25 points.To become a finalist, a job candidate must get an average score of 75 on the four tests.Acme Global is using a(n) __________ selection model.
Labor
The human effort, both physical and mental, employed in the production of goods and services.
Value of Marginal Product
The increment in revenue a firm realizes from employing one additional unit of input, holding all other factors constant.
Output
The quantity of goods or services produced by a company, sector, or economy.
Diminishing Marginal Product
A principle stating that as additional units of a variable input are added to a fixed input, the marginal product of the variable input eventually decreases.
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