<u>Marginal Costs & Marginal benefits in a choice you made.</u>
Assume that I want to buy an ornament for hands. I spend $500 for purchasing an ornament. When I was supposed to see another I wish to buy that. But spending again for the ornaments also not a good idea. I am also not willing in spending $500 for the ornament. So, I decided to go for an ornament that costed only $250. No, my marginal benefit get decreased from $500 to $250. When I decided to go fro the second one or more than one of same good my marginal benefits decrease.
Marginal cost is something that changes in a smaller range in the production of one additional unit. For example I decide to manufacture 500 pens. i need raw materials for the production and a building and machine for production. The change in the cost or expenses that happens when I decide to produce 600 pens is the marginal cost.
The correct answer would be, Pay Compression.
She resigns her job when she finds out that most of the new employees of the company, who have only two or three years of experience, get the same salary as her. In the given scenario, Jennifer most likely resigned due to Pay Compression.
Explanation:
Pay Compression is also called the Salary Compression. When there is a situation where many employees having different skills and experience levels are given the same salary, or the salary with a very little difference, this is called as the Pay Compression.
Pay Compression is usually seen in organizations. People who have more expertise, experience, better educational certifications, are paid with a little difference with the other employees. This creates a sense of underestimation, which most competent employees can't handle.
So is the case with Jennifer. She resigned her job when she came to know that other employees with the less level of skills and experience as her are paid almost the same. This is called as the Pay Compression.
Learn more about Salaries structures at:
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The correct answer is a) a class or category of objects, events, or activities.
The concepts are ideas that represent a class or category of objects, events, or activities.
In general terms, we can define a concept as an idea or a form of though. It is the general idea that comes to your mind before identifying with words. Concepts can be a class or category of objects, events, or activities that are formed in your brain to understand things. The abstract idea that is formed in your mind can be understood and apply to many different to understand reality.
