If the Contribution to Output of an Additional Unit of the Variable

question 21

Multiple Choice

If the contribution to output of an additional unit of the variable input exceeds the average contribution of the variable inputs used,

• A)the average contribution must rise.
• B)the average contribution must fall.
• C)the total product will begin to decline.
• D)the average product will be at its minimum.

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Definitions:

Job Evaluation Method

A systematic process for comparing different jobs to determine appropriate compensation levels based on their relative worth or complexity.

Benchmarking

The process of comparing business processes and performance metrics to industry bests and best practices from other companies.

Performance Appraisals

The systematic evaluation of an employee's job performance and contribution to their organization.

Point Rating Method

A systematic appraisal technique involving the assignment of points to evaluate various aspects of a job or employee performance.