The Analytic Hierarchy Process Incorporates Both Qualitative and Quantitative Decision

question 64

True/False

The analytic hierarchy process incorporates both qualitative and quantitative decision making criteria.

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Definitions:

Normal Return

The minimum profit necessary for a company to remain in business, often equated to covering opportunity costs.

Total Fixed Costs

The sum of all costs required to produce any output, assuming they remain constant regardless of the level of production.

Fixed Costs

are expenses that do not change in response to the level of goods or services produced by a business, like rent or salaries.

Variable Costs

Expenses that change in proportion to the production or sales figures.