-In Figure 4

question 58

Multiple Choice

-In Figure 4.2, the reason that the increase in output from point A to B is much less than the increase in output from point B to C is that

• A)it always costs more money to increase output.
• B)small levels of production are often inefficient and that significant increases in production can occur thereafter at only a small additional cost.
• C)it is very difficult and very expensive to increase output once the capacity of the machinery has been reached.
• D)there is waste.

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Definitions:

Mission Statement

A concise explanation of an organization's purpose, outlining its aims, values, and direction.

Strategic Management

The field of management that involves setting objectives, analyzing the competitive environment, assessing internal organization, evaluating strategies, and ensuring that management rolls out the strategies across the organization.

Strategies

Plans of action designed to achieve a long-term or overall aim.

Capacity Building

The method of enhancing and fortifying the competencies, intuitions, capabilities, procedures, and assets necessary for organizations and communities to persist, adjust, and prosper in a rapidly evolving environment.