Which Action Involves Shifting the Consequence of a Risk and Responsibility

question 68

Multiple Choice

 Which action involves shifting the consequence of a risk and responsibility for its management to a third party?

• A) risk avoidance
• B) risk acceptance
• C) risk transference
• D) risk mitigation

Comprehend the role of fixed costs in the short-run and how they impact average costs.

Recognize the implications of producing at different output levels on profits, especially in a perfectly competitive market scenario.

Examine the effects of changes in production levels on marginal and average costs, and their subsequent influence on pricing and output decisions.

Understand the prototype theory and how it applies to word meaning.