By Explaining to a Person the Reason Why You Have

question 28

Multiple Choice

By explaining to a person the reason why you have chosen them, specifically, to do a task, you are:

• A) gaining their support.
• B) making it clear to them that they are now responsible for the task.
• C) recognising their skills, knowledge and/or positive attitude.
• D) cleverly sending a message to other employees that they need to improve.
• E) making the relative importance of the task clear to them.

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Definitions:

Total Costs

The total of all costs associated with the creation of goods or services, which encompasses both constant and fluctuating expenses.

Marginal Cost

The change in total cost that results from producing one additional unit of a good or service, a key concept in economic decision-making and pricing strategies.

Average Cost

The total cost divided by the number of goods produced, also known as cost per unit.

Total-Cost Curve

A graph that shows the relationship between the total cost incurred by a firm and the level of output produced.