Complete the Following Sentence

question 115

Multiple Choice

Complete the following sentence. As you consume more and more of a good,

• A)marginal benefit increases.
• B)marginal benefit decreases.
• C)marginal benefit always equals marginal cost.
• D)marginal benefit increases or decreases depending on where you are on the production possibilities frontier.
• E)the price of the good falls.

---

Definitions:

Process Controls

Mechanisms and procedures implemented to regulate and optimize the performance of processes within an organization.

Formalization

Is written documentation of work rules, policies, and procedures.

Total Quality Management

A holistic approach to long-term success that views continuous improvement in all aspects of an organization as a process and not as a short-term goal.

Centralization

The degree to which the authority to make decisions is restricted to higher levels of management.