In the Face of Demographic Pressures Dealing with an Aging

question 17

Multiple Choice

In the face of demographic pressures dealing with an aging workforce, many employers try to induce _____ among their older workers through early retirement incentive programs.

• A)paid leave
• B)work penalties
• C)work sharing
• D)voluntary attrition
• E)transfers

---

Definitions:

Average Variable Cost

The per-unit cost that varies, calculated through the division of total variable costs by the quantity of products made.

Economic Profits

The financial gain made in a transaction after accounting for both explicit and implicit costs.

Average Total Cost

The total cost of production divided by the quantity of output produced, representing the average cost per unit of output.

MC = MR

Stands for the economic principle where Marginal Cost (MC) equals Marginal Revenue (MR), a condition for profit maximization in firms, indicating the optimal level of production.