In a Market Economy, If You Double the Inputs for a New

question 42

Multiple Choice

In a market economy, if you double the inputs for a new branch of your textile company and produce double the output which term best describes your situation.

• A)constant cost.
• B)increasing cost diminishing returns.
• C)decreasing cost diminishing returns.
• D)both B and C.
• E)none of the above.

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Definitions:

Human Capital

The collective skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value to an organization.

Training

The process of enhancing the skills, capabilities, and knowledge of employees for the purpose of improving job performance.

Experience

The accumulation of knowledge or skill that results from direct participation in events or activities.

Training

The process of enhancing the skills, knowledge, and competencies of employees or individuals through learning activities.