When a Communications Director Presents Senior Management with Such Things

question 136

Multiple Choice

When a communications director presents senior management with such things as press clipping counts, the number of ads placed, media costs, and such, he is supplying ________.

• A) inputs and expenses
• B) outputs
• C) feedback
• D) revenues
• E) outcomes

Comprehend the concepts of short-run and long-run decision making in businesses.

Interpret cost curves, including average fixed cost (AFC), average variable cost (AVC), and average total cost (ATC).

Understand the concept and calculation of marginal cost (MC).

Identify the conditions under which a business will continue to operate, shut down, or exit the industry.

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Definitions:

Annual Interest

The amount of interest due per year as a percentage of the amount lent, deposited, or borrowed.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs.

Explicit Costs

Direct, out-of-pocket payments for goods or services necessary for conducting business.

Items

Individual objects or units, especially those included in a list or collection.