Answer:
19.) b, d
20.) d, a
21.) d, c
22.) a
23.) c
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Answer:
The primary difference between those two concepts is focus that each term has. The first one focus on the relationship between the level of production and the level of return. While the second one focus on the relationship between the level of production and the amount of factors used for that production.
Explanation:
One the one hand, the law of diminishing marginal returns is a concept known in the microeconomics theory due to the fact that it establishes the relationship between the productivity and the income for every aspect of it. Meaning that, when the productivity increases because of the increase of only one factor of production then the income will start to slowly decrease, confirming that when only one factor is increased the production will start to be incomplete and the return will decrease for that.
On the other hand, the law of diminishing marginal rate of technical substitution indicates the relationship between the level of output and the different factor used to produce. Meaning that, it shows how to keep the level of output the same while making changes in the amount of factors used.
Answer:
First-line manager.
Explanation:
A first-line manager is a person within a company who is directly above all other personnel who are not managers. They have various obligations, such as the aforementioned routine decisions, service desk, feedback, work satisfaction, etc. When it comes to some more serious decisions, this type of a manager is not allowed to make them but rather only advise higher ups.
Answer:
Bill is probably a(n)
SBU manager.
Explanation:
Bill Wessels, as a strategic business unit (SBU) manager, is responsible for strategic planning, profitability, and performance of his business unit. The SBU is a separate identifiable business unit in an entity with other SBUs. It has a manager, who is largely autonomous in pursuing the business mission of the unit. It manages and accounts for its resource utilization separately from other units. Its performance is evaulated based on set criteria.
