Which Skills Increase in Their Importance to Success as Managers

question 2

Multiple Choice

Which skills increase in their importance to success as managers rise through the managerial ranks?

• A) human skills and decisional skills
• B) informational skills and the motivation to manage
• C) conceptual skills and the motivation to manage
• D) conceptual skills, technical skills, and human skills
• E) human skills and informational skills

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Definitions:

Costs Per Unit

The expenses involved in producing a single unit of a product, including materials, labor, and overhead.

Total Cost Function

A mathematical representation of the total expenses involved in production, including both fixed and variable costs, as a function of output level.

Input Prices

The costs associated with the purchase of the factors of production, including wages for labor, prices for raw materials, and capital costs.

Average Variable Cost

Average variable cost is the total variable cost divided by the quantity of output produced, showing the cost of producing each unit excluding fixed costs.