Discretionary Costs

question 36

Multiple Choice

Discretionary costs:

• A)result from a cause-and-effect relationship between the output and the input
• B)include advertising and executive training costs
• C)can be variable or fixed in the short run
• D)pertain to processes that are detailed

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Definitions:

Total Market Sales

The combined sales of all firms or businesses within a particular market or industry.

Industry

The organized action of making goods and services available for consumer use through the production, manufacturing, or construction processes.

Payoff Matrix

A table that shows the potential outcomes of different strategies in a game or decision-making situation.

Compete

The act of entities striving against each other to attain a goal, such as a higher market share or win.