Ensuring Consistency Is Seldom Important for Competency-Based Job Analysis, Because

question 10

True/False

Ensuring consistency is seldom important for competency-based job analysis, because the focus is mostly on accuracy and objectivity.

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Definitions:

MR = MC Rule

The principle that a firm will maximize its profit (or minimize its losses) by producing the output at which marginal revenue and marginal cost are equal, provided product price is equal to or greater than average variable cost.

Pure Competition

Refers to a market structure where many sellers offer homogeneous products, and no single seller can influence the market price.

Total Revenue Curve

A graphical representation that shows how a firm’s total revenue changes with variations in the quantity of output sold.