Use the Following to Answer Questions

question 8

Multiple Choice

Use the following to answer questions :
Figure: The Total Product
-(Figure: The Total Product) Use Figure: The Total Product.Labour added from L₁ and up to L₂ is:

• A) subject to diminishing marginal returns.
• B) adding to the total product at an increasing rate.
• C) adding nothing to the total product.
• D) adding to the total product at a constant rate.

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Definitions:

Costs Of Quality

The cost associated with controlling quality (prevention and appraisal) and failing to control quality (internal and external failure).

Prevention Costs

Expenditures made to avoid defects in products or inefficiencies in services, part of quality control measures.

Value-Added

The enhancement a company gives its product or service before offering the product to customers, increasing the product's value.

Value-Added

The enhancement a company gives its product or service before offering the product to customers.