What Are Specific Factors That Can Limit Options Including Budget

question 84

Multiple Choice

What are specific factors that can limit options including budget, delivery dates, available skilled resources, and organizational policies?

• A) Project objectives
• B) Project constraints
• C) Project assumptions
• D) Project deliverable

---

Definitions:

Diminishing Returns

A principle stating that if one factor of production is increased while others are held constant, the output per unit of the variable factor will eventually decrease.

AVC

Average variable cost, which is the total variable cost divided by the quantity of output produced.

ATC

Stands for Average Total Cost, which is the total cost per unit of output produced.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance, remaining constant regardless of the business activity.