Business-Level Strategies Are the Strategies of the Different Departments, Such

question 35

True/False

Business-level strategies are the strategies of the different departments, such as accounting, engineering, and marketing, that act in support of the given functional strategy.

---

Definitions:

Purely Competitive

A market structure characterized by many buyers and sellers, homogenous products, free entry and exit, and no single participant having control over prices.

Average Total Cost

The total cost of production divided by the number of goods produced; a measurement of the cost of producing each unit.

Marginal Costs

The increase in cost resulting from the manufacture of one plus unit of a good or service.

Fixed Costs

Costs that do not change with the level of output, remaining constant regardless of the scale of production or services provided.