Compared to Tangible Resources, Intangible Resources Are

question 113

Multiple Choice

Compared to tangible resources, intangible resources are:

• A) of less strategic value to the firm.
• B) less likely to be the focus of strategic analysis.
• C) a superior source of capabilities.
• D) more likely to be reflected on the firm's balance sheet.

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Definitions:

Average Total Cost Curve

A graphical representation of the total cost per unit of output, calculated by dividing the total cost by the quantity of output produced.

Diminishing Marginal Returns

A principle stating that as more of a variable input is added to a fixed input, the additional output from each new unit of input will eventually decrease.

Average Total Cost Curve

A graphical representation showing the cost per unit of output when fixed and variable costs are summed up and divided by the total output.

Variable Costs

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