How Is the Utility of a Training Program Defined

question 12

Multiple Choice

How is the utility of a training program defined?

• A) Utility = ((C)(N)(dt)(SDy) - (N)(T))
• B) Utility = (T)(N)(dt)(SDy) - (N)(C)
• C) Utility = ((T)(N)(td)(SDy) - (N)(C))
• D) Utility = ((T)(N)(td)(C) - (N)(SDy))

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Definitions:

Average Revenue

The revenue generated per unit of output sold, calculated by dividing total revenue by the number of units sold.

Marginal Revenue

The extra revenue generated from the sale of an additional unit of a product or service.

Marginal Cost

Marginal cost is the increase in total cost that arises from producing one additional unit of a good or service.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.