Examlex
When using a cost leadership strategy,a firm would offer:
Marginal Product
Additional output produced as an input is increased by one unit.
Effort Level
The degree of intensity, diligence, and concentration applied by an individual or group to accomplish tasks.
Wage Rate
The amount of compensation workers receive for their labor per unit of time, which can be hourly, daily, or annually basis.
Efficiency Wage
Wage that a firm will pay to an employee as an incentive not to shirk.
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