The Simple Structure Is Most Widely Practiced in Small Businesses

question 95

Multiple Choice

The simple structure is most widely practiced in small businesses in which ________.

• A) the number of employees is between 100 to 150
• B) employees are highly skilled
• C) the manager and owner are one and the same
• D) training budgets are limited
• E) managers are hired directly by the company's owner

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Definitions:

Average Variable Cost

The total variable costs divided by the quantity of output produced, showing the variable cost per unit of output.

Economic Loss

A situation where total costs exceed total revenues, resulting in a negative profit for a business.

Short-run Supply Curve

Shows the relationship between the price of a good and the quantity supplied over a short period, when at least one input is fixed.

Minimum Point

The point at which a function reaches its smallest value, often used in the context of costs or optimization problems.