If the Marginal Product of Labor Is 100 and the Price

question 24

Multiple Choice

If the marginal product of labor is 100 and the price of labor is 10,while the marginal product of capital is 200 and the price of capital is $30,then what should the firm?

• A) The firm should use relatively more capital
• B) The firm should use relatively more labor
• C) The firm should not make any changes - they are currently efficient
• D) Using the Equimarginal Criterion,we can't determine the firm's efficiency level
• E) Both c and d

Recognize the importance of job nature and work satisfaction in motivating employees.

Explain the role of leadership in meeting employee needs and addressing motivation issues.

Distinguish between satisfied and unsatisfied needs and their impact on employee motivation.

Understand the principles of effective conflict resolution and its significance in organizational settings.

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Definitions:

Structured Series

A sequence of events, tasks, or components that are organized in a predetermined, systematic way to achieve a specific objective or to carry out a process.

Job Positions

Roles or titles assigned to employees that define their responsibilities, duties, and status within an organization.

Age-fifty Transition

A period of adjustment and reevaluation often experienced around the age of fifty, marked by personal reflection and life assessment.

Stable Period

A phase during which conditions remain relatively constant or unchanged, often indicating a state of equilibrium or balance within an environment or system.