When a Firm Produces More Output Using the Same Inputs

question 220

Multiple Choice

When a firm produces more output using the same inputs or the same output using fewer inputs we say that the firm

• A)experiences an increase in demand.
• B)experiences positive technological change.
• C)will hire more workers in order to produce more output.
• D)is operating in the short run.

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Definitions:

Bonuses

Additional pay given to employees on top of their regular salary, often as a reward for performance or for special occasions.

Employee Orientation

A process designed to familiarize new hires with the organizational structure, culture, policies, and procedures of the company.

Recruit Employees

To recruit employees means to undertake activities and processes to attract and select individuals for employment positions within an organization.

IRAs

Individual Retirement Accounts, which are tax-advantaged investing tools for individuals to earmark funds for retirement savings.