The Average Fixed Cost (AFC)curve

question 112

Multiple Choice

The average fixed cost (AFC) curve

• A)Is U-shaped as a result of diminishing returns.
• B)Declines as long as output increases.
• C)Is intersected at its minimum point by marginal cost.

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Definitions:

Performance Management

The systematic process by which an organization involves its employees in improving organizational effectiveness in the accomplishment of its mission and goals.

Employee Benefits

Refers to various types of non-wage compensation provided to employees in addition to their normal wages or salaries.

Communication

This involves the imparting or exchanging of information by speaking, writing, or using some other medium, and is essential for successful human interaction.

HRISs

Human Resource Information Systems; technological solutions used to manage people, policies, and procedures in organizations efficiently.