Business Analysis Refers to

question 305

Multiple Choice

Business analysis refers to

• A)the stage of the new product process where the target markets are selected and resources are allotted to reach them.
• B)the process of identifying market segments that show potential and eliminating those that do not.
• C)the stage of the new product process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.
• D)a formal accounting of all monies spent and redistributing resources for the following fiscal year, accordingly.
• E)the stage of the new product process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort.

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Definitions:

AVC

Average Variable Cost, which is the total variable costs divided by the quantity of output produced.

Average Variable Cost

The total variable costs (costs that change with production volume) divided by the quantity of output produced.

Average Total Cost

The total cost of production divided by the quantity produced, representing the cost per unit of output.

Short Run

In economics, a period where at least one input, such as plant size or capital, is fixed and cannot be changed, contrasting with the long run where all inputs can vary.