A Company Using a Weighted-Criteria Evaluation System Has Established These

question 45

Multiple Choice

A company using a weighted-criteria evaluation system has established these 3 categories and the appropriate weight in parentheses: Quality(0.30) ,Delivery(0.20) ,Cost(0.50) .
The scores for each category are shown below.Which of the following companies has the highest total score?

• A)Company A: Quality(90),Delivery(80),Cost(60)
• B)Company C: Quality(70),Delivery(80),Cost(80)
• C)Company B: Quality(70),Delivery(90),Cost(80)
• D)All companies scored the same.

Analyze the concept of diminishing returns and negative returns in production.

Calculate Average Total Cost (ATC), Average Variable Cost (AVC), and Marginal Cost (MC) from given data.

Differentiate between fixed and variable costs with examples.

Understand economic decision-making regarding operation, shutdown, staying in business, or going out of business in the short and long run.

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Definitions:

Price Concessions

Adjustments made to the original price of a good or service in response to negotiating tactics or market demands.

Buyer

An individual or entity that acquires goods or services in exchange for money or other forms of payment.

Before-Tax Profit

The earnings of a company before taxes have been deducted, representing its profitability.

Fixed Costs

Expenses that do not change with varying levels of production or sales, such as rent or salaries.