Which of the Following Is a Likely Reason That a Company

question 44

Multiple Choice

Which of the following is a likely reason that a company would move its facility from one location to another?

• A) Availability of expensive labor
• B) Higher quotas on competing goods
• C) Access to various modes of transportation
• D) Availability of a retired workforce

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Definitions:

Short-Run Total Cost

The total of all costs incurred in the production process when some factors of production are fixed.

Production Function

An equation, table, or graph that shows the maximum output of goods and services that can be produced with varying inputs under certain technological constraints.

Labor

The human effort, both physical and mental, used in the production process.

Average Cost

The cost per unit, determined by dividing the total production costs by the quantity of units produced.