In General, a Visionary Organization Asks Which Three Types of Questions

question 203

Multiple Choice

In general, a visionary organization asks which three types of questions to specify its foundation, set a direction, and formulate strategies?

• A)why, when, where
• B)what, by whom, how
• C)how, when, where
• D)why, what, how
• E)who, why, when

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Definitions:

Average Variable Cost Curve

A graph that shows how the average variable cost of production changes as the quantity of output changes.

Marginal Cost

The price involved in creating another unit of a good or service.

Break-even Price

The price at which total revenues equals total costs, resulting in neither profit nor loss.

Shut-down Price

The price level at which a business's revenue just covers its variable costs, below which it will cease operations.