Let a Firm's Production Function Be $Q = 100 ( a L + b K )$

question 46

Multiple Choice

Let a firm's production function be $Q = 100 ( a L + b K )$ The production function then becomes $Q = 500 ( a L + b K )$ Which of the following statements is true?

• A) Neutral technological progress has occurred.
• B) Labor-saving technological progress has occurred
• C) Capital-saving technological progress has occurred.
• D) Economies of scale have increased.

Distinguish between different relations within the balance theory.

Understand the development of attitudes through vertical and horizontal structures.

Analyze the structures of attitudes and their influence on attitude change.

Recognize the use of persuasive techniques, such as low-balling, in attitude change.

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Definitions:

Systems Thinking

Systems thinking views change issues within the framework of the entire organization. This view helps to understand the underlying causes of problems and the potential outcomes of change initiatives.

Organizational Learning

The process by which an organization improves and innovates by reflecting on past experiences, acquiring new knowledge, and adapting to changing environments.

Change Issues

Challenges that arise during the process of making alterations to business operations or strategy.

Environmental Issues

Various concerns related to the preservation and protection of the environment including pollution, climate change, and natural resource depletion.