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You own a pizza shop called "Pizzas'R' Us". Currently you are paying your cooks an hourly wage of $20. You sell a medium pizza for $10. By hiring more cooks, you can increase your pizza production as shown in the following table. If you operate one hour every day, what is the marginal benefit of hiring the 3rd cook?
PERT Network
Project Evaluation and Review Technique; a project management tool used to schedule, organize, and coordinate tasks within a project.
Organizational Response
The way an organization reacts to internal or external stimuli, challenges, or opportunities.
Technology Leader
An individual or organization pioneering in the development, utilization, and application of new technologies, setting trends in the industry.
Management By Objectives (MBO)
A management strategy where objectives are defined so that employees understand what they need to achieve.
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