Examlex

Solved

____ Are Ideas, Patents, Plans, and Manufacturing Processes on Which

question 55

Multiple Choice

____ are ideas, patents, plans, and manufacturing processes on which organizations depend.


Definitions:

Marginal Product

The additional output that results from using one more unit of a particular input while holding other inputs constant.

Variable Resource

A factor of production whose quantity can be changed easily by a firm in the short run to adjust output levels.

Total Variable Cost

The sum of all variable expenses associated with producing a particular level of output.

Total Fixed Cost

An expenditure that does not change with the level of production or sales over a short period.

Related Questions