Which of the Following Is a Basic Difference of Work

question 32

Multiple Choice

Which of the following is a basic difference of work sampling compared to a time study?

• A) It does not require any observations.
• B) It requires fewer observations to accomplish the same thing.
• C) It is better suited for short, repetitive tasks.
• D) It does not provide standard times.
• E) It is suitable only for assembly lines.

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Definitions:

AVC

The average variable cost, which is the total variable costs divided by the quantity of output produced.

Perfectly Competitive Firms

Businesses operating in a market where no single firm can influence the market price or product quality, leading to optimal efficiency.

Maximize Profit

The process or strategy employed by businesses to increase their net earnings or reduce costs to the greatest extent possible.

Marginal Revenue Curve

A graph that shows the additional revenue a firm earns from selling one more unit of a good or service.