Discuss the concepts of total production, average production and marginal production
For those of you with current or previous work experience, how is (was) productivity measured in your organization. Discuss the concepts of total production, average production and marginal production. Relate production to cost and discuss how the ideas of total cost, average cost and marginal cost are used in decision making.
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The measurement of productivity varies from one organization to another. In my current place of employment, the measurement of productivity is focused on the overall capabilities but not on only one set of costs. The productivity index in my organization focus on how the…
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