A(n) ______ Is an Interactive Computer-Based System That Produces Models

question 37

Multiple Choice

A(n) ______ is an interactive computer-based system that produces models which help managers to make better nonprogrammed decisions.

• A)decision-support system
• B)artificial intelligence system
• C)decisional balance sheet
• D)transaction-processing system
• E)business decision mapping

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Definitions:

Diminishing Marginal Returns

A principle stating that if one factor of production is increased while others are kept constant, the resulting increase in output will eventually decline.

Short-Run Average Total Cost (ATC)

The total cost per unit of output in the short run, where some factors of production are fixed.

Profit-Maximizing Level

The output level at which a firm achieves the highest profit, where marginal revenue equals marginal cost.

Average Total Costs (ATC)

A rephrasing of Average Total Cost, it calculates the per-unit production cost by dividing the total cost by the total quantity of goods produced.