When a Request for Proposal (RFP)is Solicited Based on ________,Total

question 66

Multiple Choice

When a request for proposal (RFP) is solicited based on ________,total costs are usually lower and less time is required for vendor preparation and company evaluation.

• A) specific equipment needs
• B) general software needs
• C) exact hardware and software specifications
• D) None of the above is correct.

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Definitions:

Total Cost

The sum of all costs incurred by a business in producing a certain amount of a good or service, including both fixed and variable costs.

Additional Unit

Refers to the next unit of product or service that is considered in the production or consumption decision-making process.

Marginal Benefit

The extra advantage gained by using an additional unit of a product or service.

Producing

The act or process of creating goods or services by combining labor, materials, and technology.