It Is Not Necessary for Managers to Fully Understand the Causal

question 32

True/False

It is not necessary for managers to fully understand the causal relationship between their actions and the organization's overall performance to get results.

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Definitions:

Short Run

A period in economics during which some factors of production are fixed, making it impossible for a business to change major production facilities.

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced; it decreases as production increases.

Output

The cumulative output of goods and services from a company or an economic system.

Average Total Cost

The total cost of production divided by the total number of units produced, representing the per unit cost of production.