Examlex
__________ are directives designed to guide the thinking,decisions and actions of managers and their subordinates in implementing a firm's strategy.
Average Fixed Cost
The average fixed cost is the total fixed expenses of a business divided by the number of units produced, showing how much fixed costs contribute to each unit of production.
Average Variable Cost
The variable cost per unit of output, determined by dividing the total variable costs by the number of units of output.
Output
The total quantity of goods or services produced or supplied by a firm or economy within a certain period.
Product Price
The amount of money required to purchase a specific good or service offered in the market.
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