More and More Companies Are Finding It Necessary to Compete

question 76

Multiple Choice

More and more companies are finding it necessary to compete based on

• A)unity-of-command principles.
• B)the quality of their service.
• C)production bottlenecks.
• D)union problems.
• E)discount prices.

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Definitions:

Cost-Benefit Analysis

A comparison of the marginal costs of a project or program with the marginal benefits to decide whether or not to employ resources in that project or program and to what extent.

Marginal Cost

The additional expense incurred from creating an extra unit of a product, emphasizing how production costs change with the level of output.

Marginal Benefit

The supplementary value or advantage gained by using or generating one more quantity of a good or service.

Marginal Benefits

The additional benefits or advantages gained from an increase in an activity or the consumption of a good or service.