Which of the Following Statements Is False

question 87

Multiple Choice

Which of the following statements is false?

• A)An explicit cost is a nonmonetary opportunity cost.
• B)In the short run: total cost = fixed cost + variable cost.
• C)Variable costs are costs that change as output changes.
• D)In the long run there are no fixed costs.

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Definitions:

Human Resource Plans

Strategic documents that outline an organization's approach to managing its workforce, including recruitment, training, development, and retention strategies.

Operational Plans

Detailed, short-term plans that outline how to achieve tactical objectives and daily operations of an organization.

Financial Plans

Detailed strategies outlining the allocation and management of funds to achieve specific financial goals or objectives.

Scenario Planning

A strategic planning method that organizations use to envision and develop strategies for multiple future scenarios.