Intervention Means

question 2

Multiple Choice

Intervention means:

• A) valid information only
• B) unplanned management manipulations
• C) planned actions or events intended to increase effectiveness
• D) change activities outside the organization

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Definitions:

Output

refers to the total amount of goods or services produced by a firm, industry, or economy within a certain period.

Profit-Maximizing Rule

A principle stating that profit maximization occurs when a firm expands output until marginal cost is equal to marginal revenue.

MR = MC

The condition for profit maximization in economic theory, where marginal revenue (MR) equals marginal cost (MC).

Economic Profit

The discrepancy across total turnover and total spendings, including expenses both explicit and implicit.