Which of the Following Terms Is an Inquiry Sent to Multiple

question 19

Multiple Choice

Which of the following terms is an inquiry sent to multiple suppliers to receive information?

• A) Purchase requisition
• B) Material authorization
• C) Purchase order
• D) Request for quote

---

Definitions:

Marginal Cost

The increase in cost that arises from producing an additional unit of output.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to buy at various prices.

Economic Profit

Economic profit is the total revenue of a company after subtracting both the explicit and implicit costs, including opportunity costs, reflecting the true profitability of a business.

ATC

Average Total Cost; it's the sum of all production costs divided by the quantity of output produced, representing the per-unit cost of production.