The First 3 Columns of the Following Table Show Data

question 56

Multiple Choice

The first 3 columns of the following table show data for a representative firm in an industry.The last 3 columns show the market demand and supply for the type of labour employed by this firm.

-What will be the effect if an economy experiences growth in its labour productivity over a period of years?

• A)The marginal revenue product of labour will decrease and,graphically,the demand for labour curve will shift to the right.
• B)The marginal revenue product of labour will increase and,graphically,the demand for labour curve will shift to the right.
• C)The marginal revenue product of labour will increase and,graphically,the supply of labour curve will shift to the left.
• D)The marginal revenue product of labour will increase and,graphically,the supply of labour curve will shift to the right.

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Definitions:

Critical Path

Sequence of operations that requires the longest time for completion.

Production Control

The activity of monitoring and controlling any particular production or operation, aiming to ensure that production runs smoothly, efficiently, and to schedule.

Needed Adjustments

Modifications or changes required to achieve desired objectives or to correct deviations from plans.

Production Supervisor

A professional responsible for overseeing the daily operations of manufacturing plants or production units, ensuring efficiency and quality output.