Those with a High Need for Achievement May Be the Least

question 98

True/False

Those with a high need for achievement may be the least efficient managers because they resist making decisions that make others resent them.

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Definitions:

Average Total Cost

The sum of all production costs divided by the quantity of output produced, representing the per-unit cost.

Marginal Cost

Marginal cost refers to the increase or decrease in the total cost when the quantity produced is incremented by one unit.

Fixed Cost

Costs that remain constant regardless of the amount of goods produced or sold, including rent, wages, and insurance premiums.

Sunk Cost

Costs that have already been incurred and cannot be recovered or refunded, and should not influence future business decisions.