Use the Information Below to Answer the Following Questions

question 58

Multiple Choice

Use the information below to answer the following questions.
-Refer to the table above. The unfavourable sales variance of $100,000 is best explained by:

• A) the sales manager failing to sell the budgeted units.
• B) an increase in expenses.
• C) a decrease in price of the units sold.
• D) none of the above.

Grasp the concept of total quality management and its impact on organizational performance.

Understand the need for managers to support team efforts and the practical implications of an upside-down pyramid structure in organizations.

Recognize the variety of management functions and the importance of adapting management approaches to changing work environments.

Identify the characteristics of effective management and the critical skills needed for the new workplace.

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Definitions:

X-inefficiency

The difference between efficient behaviors of businesses in a competitive market and their actual behaviors due to lack of competitive pressure.

Decreasing-cost Industry

An industry in which the costs of production decrease as the industry grows and output increases.

Decreasing-cost Industry

An industry in which the costs of production per unit decrease as the industry grows and output increases.

Long-run Equilibrium

A state in which all factors of production and outputs are adjusted so that prices, supply, and demand are stable over time.