As More Output Is Produced, the Marginal Product of Labor

question 268

Multiple Choice

As more output is produced, the marginal product of labor declines

• A)because of the law of diminishing returns.
• B)if firms reduce the wage paid to labor.
• C)if the firm's output supply curve is inelastic.
• D)because the firm's marginal revenue declines.

Recognize the principles of database security and the CIA triad.

Differentiate between relational and nonrelational databases and their uses.

Acknowledge the importance and impact of Big Data and its characteristics.

Understand the selection criteria for database management systems (DBMS) and their tools.

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Definitions:

Equipment

Long-term assets that are used in the production of goods and services; these are tangible in nature.

Accounts Receivable

Obligations of customers to pay a company for goods or services that have been dispensed but remain unpaid.

Journalize

The process of recording transactions in a company's journal, marking the first step in the accounting cycle.

Transactions

Economic events that involve transferring resources between entities, affecting financial statements.