The Ideal Size of a Group

question 19

Multiple Choice

The ideal size of a group

• A) Is 5 or 6 members
• B) Depends on the objectives of the group and the attributes of its members
• C) Is 7 or 8 members
• D) Depends on how many members have the same concerns

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Definitions:

Variable Costs

Costs that vary directly with the level of production, such as materials and labor.

AVC

Average Variable Cost, referring to the variable cost per unit of output.

MC

An abbreviation commonly used for marginal cost, which is the cost added by producing one additional unit of a product or service.

Average Variable Cost

The variable cost per unit of output; the total variable cost divided by the number of units produced.