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Costs incurred in training,motivating,compensating,and monitoring employees can be viewed as investments in human capital that result in gains to productivity per worker.How does this type of investment yield such gains?
Production Function
A mathematical representation that explains how inputs in production are related to the goods or services produced.
Proportions
Ratios or fractions that express the relationship of one part to another or to the whole with respect to quantity, size, or amount.
Profit
The financial gain achieved when the revenue from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.
Production Function
A mathematical expression that describes the relationship between input factors of production (like labor and capital) and the output of goods or services.
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