Policies Are Important in Organizations Because They

question 6

Multiple Choice

Policies are important in organizations because they:

• A)are single-use plans that help guide employee efforts on a project.
• B)provide a general guide for organizational behavior.
• C)specify what must or must not be done.
• D)give a chronological sequence of activities that are to occur to achieve organizational goals.

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Definitions:

ATC

Average total cost is found by dividing the overall production cost by the number of units produced.

Marginal Revenue

The additional income generated from the sale of one more unit of a product or service.

AVC

Stands for Average Variable Cost, which is the total variable costs (costs that vary with production levels) divided by the quantity of output produced.

AVC

Average Variable Cost refers to the cost of variable inputs divided by the quantity of output produced.