Short- Run Cost Curves Are Eventually Upward- Sloping Because of the Effects

question 107

Multiple Choice

Short- run cost curves are eventually upward- sloping because of the effects of

• A) decreasing total product.
• B) increasing fixed costs.
• C) diminishing marginal product.
• D) the increasing price of variable inputs.
• E) increasing marginal productivity of the variable inputs.

Understand the transition of small businesses to professional management including delegation.

Recognize the need for and attributes of planning and managing growth in a professionally managed small business.

Distinguish between the various stages of small business growth.

Understand the significance of leadership and managerial skills in small businesses.

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Definitions:

Recruiting

Forming a pool of qualified applicants from which management can select employees.

Qualified Applicants

Qualified applicants are individuals who meet the necessary educational, work experience, and skill requirements for a particular job position.