Your Local Target Retailer Carries Variety of Different Items

question 193

Multiple Choice

Your local Target retailer carries variety of different items.You can find anything ranging from socks, CD's, baby items to groceries and much more.This is an example of the __________ carried by Target.

• A)depth of product line
• B)breadth of product line
• C)variety of product line
• D)versatility of product line
• E)product mix

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Definitions:

Average Fixed Cost

The fixed costs of production (costs that do not change with the level of output) divided by the quantity of output produced, which decreases as output increases.

Total Product

The total quantity of output produced by a firm during a given time period with a given amount of inputs.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied by producers.

Minimum Point

The lowest point on a curve, often referring to the least cost or output level in various economic or mathematical models.