Average Fixed Cost Is Equal to

question 132

Multiple Choice

Average fixed cost is equal to

• A)the amount of total cost that does not change as output changes in the short run.
• B)fixed cost divided by the quantity of output produced.
• C)fixed cost multiplied by the quantity of output produced.
• D)average total cost plus average variable cost.

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Definitions:

Corrective Action

Steps taken to eliminate the causes of an existing nonconformity, defect, or other undesirable situation to prevent recurrence.

Rules and Standards

Defined as established guidelines and criteria used to manage conduct, processes, and procedures within organizations and industries.

Path-Goal Theory

A leadership theory that suggests a leader's behavior is contingent to the satisfaction, motivation, and performance of their subordinates.

Leadership Style

Leadership style refers to the behavior and approach of a leader, guiding how they interact with their team, make decisions, and motivate people towards achieving goals.