Which of the Following Are Likely to Be a Criterion

question 1

Multiple Choice

Which of the following are likely to be a criterion for choosing the best supplier? 

• A) Location. 
• B) Quality of Service. 
• C) Strategic Plan. 
• D) Profitability.

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Definitions:

ATC (Average Total Cost)

The per unit cost of production, calculated by dividing the total cost by the quantity of output produced.

MC (Marginal Cost)

The additional expense associated with the production of one more unit of a product or service.

Take a Loss

To realize a financial loss on an investment or transaction, often as a result of selling assets for less than their purchase price.

Short Run

A period in economics during which at least one input (e.g., factory size) is fixed and cannot be changed.