When firms add workers and get more efficient, they are benefiting from a. The division of labor.

Question:

When firms add workers and get more efficient, they are benefiting from

a. The division of labor.

b. Diminishing returns.

c. The law of large numbers.

d. Diminishing marginal utility.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Issues in Economics Today

ISBN: 978-1259746390

8th edition

Authors: Robert C. Guell

See More Books

Question Posted: Apr 24, 2018 03:03 AM

See More Questions

When firms add workers and find that the additional workers add less to output than their predecessors did, they are experiencing a. The division of labor. b. Diminishing returns. c. The law of large...
Your organization has decided to institute a suggestion system. Employees on hourly pay scales will be asked to submit suggestions. (Managers and other employees on salary are not eligible for this...
Entrepreneurial Skill and Market Conditions: We often treat all firms as if they must inherently face the same costsbut managerial, or entrepreneurial, skill in firms can sometimes lead to a decrease...
Transform the following product by making the change of variable i = k + 1. k So when k and K +2 When k = 1, then i = n k II k +2 k = 1 = n+ 1 II i = 2 are expressed in terms of i, the results are k...
The larger binary trees in this chapter were generated automatically by a program. This was done by assigning an (x, y) coordinate to each tree node, drawing a circle around each coordinate (this is...
a. Exact weights of quarters now in circulation in the United States b. Numbers of tosses of quarters required to get heads c. Responses to the survey question Did you smoke at least one cigarette in...
The one-way analysis of variance is conveniently implemented using MINITAB. With reference to the example on page 389 , we first set the observations in columns: DATA: C1: 13 10 C2: 13 11 C3: 4 1 14...
A company car is in a wreck and the company expects to have to pay a substantial sum to persons who were injured. Search the FASB ASC database to determine what type of disclosure, if any, is...
Teapot Dome Company is in the business of manufacturing various teapots. They sell their products directly to the customer. For 2022, they have reported the following financial information. Revenue...
There are 2 shinobis with chakra levels 5 and 10 respectively and the desired sum of chakra levels is utmost 15 Starting with ke0, suy of chakra levels after attack max(5-0,0) + max(10- 0,0) 5+10 15....
What are the key reasons why college costs are higher than high school costs? a. The expenses of research b. College faculty salaries are higher than K12 faculty salaries c. Subsidies to education...
In 2014, unless a state was willing to forgo all federal money for Medicaid, a member of a family earning less than 133 percent of the poverty line is a. Ineligible for any health care assistance. b....
List the changes that occur as an organization grows in size. List the changes that occur as an organization ages over time. Are the two lists the same? Explain any differences you find.
Steel producers expect to cut output by 10 percent in response to cancelled orders from construction companies and car and appliance producers. Explain how the cancellation of orders change the...
Compare the elasticity implied by the data for the period from September 2004 to September 2005 with that implied by most studies. What might explain the difference? Why the tepid response to higher...
a. Are Chinas price controls described in the news clip price floors or price ceilings? b. Explain how Chinas price controls have created shortages or surpluses in the markets for coal, gasoline, and...
The Omnibus Budget Reconciliation Act of 1990 included a stern tax on luxury items. In 1990 the Joint Committee on Taxation projected that the 1991 revenue yield from the luxury taxes would be $31...
The lemons problem does not arise in markets in which ________. A. Buyers can separate reliable products and defective products B. Sellers offer more defective products than reliable products for...
From the manufacturer's point of view, what are the advantages and disadvantages of using intermediaries to distribute products? From the end-users point of view?
In Problem use geometric formulas to find the unsigned area between the graph of y = f(x) and the x axis over the indicated interval. f(x) = x + 5; [0, 4]
How did LGs new logistics and transportation management system improve management decision making? Describe two decisions that the new system solution improved.
What was the problem at Celcom described in this case? What management, organization, and technology factors contributed to this problem?
What was Celcoms business strategy, and what was the role of customer relationship management in that strategy?
(3) Calculate m(R) (volume of R) Given: R is the region of the 3- dim space, defined by: 3 Upper border: Z = 92 (x, y) = 3x+5y3 Lower border: Z = 9, (x,y) = x+y xy projection: D= pr (R) = triangle...
Explain what is Model, Strategy, Algorithm in math teaching? How is it similar/compare to 'algorithm' language of borrow or carry over in subtraction
Directions and Info for Building 1. Use a program where you can draw and type, like pages, or you can draw this out on a piece of paper and take a picture to submit. 2. You will begin with the...

When firms add workers and get more efficient, they are benefiting from a. The division of labor.

Question:

Step by Step Answer:

a The division of labor Ex...View the full answer

Issues in Economics Today

Students also viewed these Business questions