Indicate Whether the Item Applies to Fixed Costs or Variable

question 17

Multiple Choice

Indicate whether the item applies to fixed costs or variable costs.

-depreciation

• A) fixed costs
• B) variable costs

Understand organizational culture and its informal and formal expressions.

Distinguish between different types of departmentalization and their implications.

Understand the principles of decentralization and centralization.

Recognize the importance of accountability and authority delegation in organizational structures.

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Definitions:

Competitive Equilibrium

A market state where supply equals demand, resulting in an efficient distribution of goods and services without excess.

Price Ceiling

A government-imposed limit on the price charged for a product, intended to protect consumers from high prices.

Marginal Cost

The additional cost incurred in producing one more unit of a good or service.

Comparative Advantage

Comparative advantage occurs when a country, individual, or company can produce a good or service at a lower opportunity cost than others.