Match Each Term with the Correct Statement from Below

question 80

Multiple Choice

Match each term with the correct statement from below.
-is the practice of delegating decision-making authority to lower levels.

• A)Centralization
• B)Revenue centre
• C)Profit centre
• D)Cost centre
• E)Investment centre
• F)Decentralization

---

Definitions:

Profit-Maximizing Equilibrium

The point at which a firm achieves the highest possible profit, where marginal cost equals marginal revenue.

Least Costly Combination

An economic principle that firms use to minimize costs while combining different factors of production to produce a given output.

Maximizing Profits

The goal of businesses to make the highest possible profit, often by increasing revenue, reducing costs, or both.

MP

No standard definition available; it could refer to "Marginal Product" in economics, which is the extra output generated by adding one more unit of input.