________ Is a Company Strategy to Reduce the Scale and Scope

question 82

Short Answer

________ is a company strategy to reduce the scale and scope of its business in order to improve the company's financial performance.

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Definitions:

Capital-labor Ratio

The ratio of capital (equipment, buildings, etc.) to labor (workforce) in an economic analysis or production process.

Annual Output

The total production or output of a good or service in a year.

Capital-labor Ratio

The ratio of the total capital employed by a firm to the number of its labor force, indicating the amount of capital used per worker.

Production Function

Function showing the highest output that a firm can produce for every specified combination of inputs.