Use the Information Below to Answer the Following Questions

question 64

Multiple Choice

Use the information below to answer the following questions.
Fact 12.2.1 Chevy Volt Production Temporarily Shut Down
GM will temporarily lay off 1,300 employees as the company stops production of the electric car, Chevy Volt, for five weeks. GM had hoped to sell 10,000 Volts last year, but ended up selling just 7,671. It plans to maintain inventory levels by adjusting production to match demand.
Source: Politico, March 2, 2012
-Refer to Fact 12.2.1. The shutdown decision maximizes GM's economic profit (or minimizes its loss) when price is less than

• A)average variable cost.
• B)total variable cost.
• C)average fixed cost.
• D)total fixed cost.
• E)average total cost.

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Definitions:

Take Professionally

Adopting a serious and committed approach towards one's career or work responsibilities.

Difficult People

Difficult People are individuals whose behavior or personality traits make interactions challenging and often lead to conflict or stress.

Not Personally

An approach or reaction that is detached from personal feelings or emotions, typically in a professional context.

Grievance Procedure

A formalized process through which employees can report and resolve conflicts or complaints in the workplace.