Use the Following to Answer Question

question 203

Multiple Choice

Use the following to answer question:
-(Figure: Short-Run Costs) Use Figure: Short-Run Costs.C is the _____ cost curve.

• A)average total
• B)total
• C)marginal
• D)average variable

---

Definitions:

Discount

A discount represents a reduction from the full price or value of goods, services, financial instruments, or the present value of future cash flows.

Safety Stock

Safety stock is additional inventory held to prevent stockouts due to uncertainties in demand or supply.

Inventory Level

The quantity of goods and materials on hand in a business' inventory at any given time.

Lead Time

The period between the initiation of a process and its completion, especially in manufacturing or project planning.