A Large Sample Survey Was Used to Ask a Total

question 3

Multiple Choice

A large sample survey was used to ask a total of 2,615 managers within U.S.corporations what they considered to be the most important characteristic of effective leaders.The item that ranked #1 was:

• A)Inspiring.
• B)Honest.
• C)Imaginative.
• D)Dependable.

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Definitions:

Marginal Costs

The expense incurred from manufacturing an extra unit of a product or service.

Average Total Costs

The total costs (fixed and variable) of production divided by the quantity of output produced.

Average Fixed Costs

The total fixed costs divided by the quantity of output produced, indicating the cost per unit that does not change with output level.

Average Total Costs

The cost of producing each unit, calculated by dividing the entire production cost by the total number of units made.