Which of the Following Is NOT One of the Four

question 51

Multiple Choice

Which of the following is NOT one of the four things needed for aggregate planning?

• A) a logical overall unit for measuring sales and output
• B) a method to determine the relevant costs
• C) a mathematical model that will minimize costs over the intermediate planning period
• D) an aggregate demand forecast for an intermediate planning period
• E) All of these are needed for aggregate planning.

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Definitions:

Economic Profits

The excess of total revenue over total costs, including both explicit and implicit costs, in economics.

Market Supply

The total amount of a good or service that producers are willing and able to sell at varying price points, at a given time.

Long Run

An economic phase characterized by the variability of all production inputs and expenses.

Industry Supply Curve

It represents the total quantity of goods or services that producers in an industry are willing and able to supply at various price levels.