Labor Productivity Is Measured by the Quantity Produced Divided by the Labor

question 84

Multiple Choice

Labor productivity is measured by the quantity produced divided by the labor time required to produce it.All other things held constant,an increase in labor productivity will increase throughput by

• A)increasing productive capacity.
• B)increasing productive processing time.
• C)increasing yield.
• D)increasing all components of throughput.

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Definitions:

Marginal Cost

The cost incurred by producing one additional unit of a product or service.

Marginal Benefit

The additional satisfaction or utility gained by consuming an additional unit of a good or service.

Marginal Cost

The extra expense involved in creating an additional unit of a product or service.

Constant Marginal Costs

A situation where the cost of producing one more unit of a good or service remains unchanged regardless of the volume of production.