MODIFIED TRUE/FALSE -Use an impact Analysis to Broaden Your View.Have the Group

question 35

True/False

MODIFIED TRUE/FALSE
-Use an impact analysis to broaden your view.Have the group list the consequences of each idea.Who or what would each option affect? Would the consequences be minimal or manageable? Which idea would cause the least amount of loss or harm? _________________________

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Definitions:

Average Total Cost

The total cost of production (fixed and variable costs) divided by the total quantity of output produced.

Marginal Cost

The additional cost incurred in the production of one extra unit of a good or service.

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced; these costs decline as production increases.

Marginal Cost

The financial cost of producing an extra unit of a good or service.