Most Institutions Use the RACE Acronym to Respond to a Fire

question 6

Multiple Choice

Most institutions use the RACE acronym to respond to a fire emergency. RACE stands for

• A) race, alert, cite, evacuate.
• B) run, avoid, call, emergency.
• C) rescue, alarm, contain, extinguish.
• D) retrieve, announce, close, exit.

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Definitions:

Fixed Costs

Expenses that do not change in the short term regardless of the level of production or sales, such as rent and salaries.

Average Total Cost Curve

A graph that shows the per unit cost of production at various levels of output.

Short-Run

A time period in which at least one factor of production is fixed, limiting the ability of firms to adjust to changes in market conditions fully.

Marginal Cost Curve

A graphical representation that shows the change in total cost when an additional unit is produced; typically upward-sloping due to increasing marginal costs.