Once a Company Has Restructured a Firm to Be More

question 291

True/False

Once a company has restructured a firm to be more competitive in today's market, it alleviates the need to scan the external environment.

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Definitions:

Average Fixed Costs

The fixed costs of production (costs that do not change with the level of output) divided by the quantity of output produced.

Earrings

Decorative jewelry pieces worn on the earlobes or other parts of the ear.

Marginal Cost

The change in total cost that arises when the quantity produced is incremented by one unit, indicating the cost of producing one more item.

Total Variable Cost

The sum of all costs that vary with the level of output, including things like raw materials, labor costs that vary with production volume.