The Two-Factor Theory Was Formulated by Well-Known Work-Motivation Theorist

question 52

Multiple Choice

The two-factor theory was formulated by well-known work-motivation theorist:

• A)Frederick Herzberg
• B)Geert Hofstede
• C)David McClelland
• D)Abraham Maslow

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Definitions:

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, representing excess return over perfect competition.

Per-Unit Profit

The difference between the selling price of a product and its cost of production on a per-item basis, indicating the profit generated from selling one unit of product.

AVC

Average variable cost refers to the division of the total variable expenses by the quantity of goods produced.

ATC

Average Total Cost, which refers to the total cost per unit of output, including both fixed and variable costs.