The Physical Output That Is Due to the Addition of One

question 253

Multiple Choice

The physical output that is due to the addition of one more unit of a variable factor of production is

• A) average total cost.
• B) marginal cost.
• C) average physical product.
• D) marginal physical product.

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Definitions:

Job Performance

The quality and quantity of tasks accomplished by an employee as measured against predetermined standards or objectives.

Current Performance

Refers to the present level of effectiveness and efficiency with which tasks and objectives are being met.

Middle Managers

Managers who oversee the work of junior managers and report to higher-level executives, acting as a link between the executive level and the operational staff.

Top Managers

Individuals holding senior positions within an organization, responsible for making strategic decisions and guiding the organization towards its goals.