Complete the Following Using the Terms Listed

question 82

Multiple Choice

Complete the following using the terms listed.
-A(n) _____ allows a company to share risks,costs,profits,and management responsibilities with another company.

• A)offshoring
• B)balance of trade
• C)joint venture
• D)Dumping
• E)Imports
• F)tariff
• G)International Monetary Fund
• H)World Trade Organization
• I)free trade area
• J)Devaluation
• K)exchange rate
• L)absolute advantage
• M)global business strategy
• N)Quota
• O)multidomestic strategy
• P)balance of payments
• Q)comparative advantage

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Definitions:

Marginal Returns

The change in output resulting from a one-unit increase in a particular input, while holding other inputs constant.

Marginal Cost

The rise in overall expenses associated with the production of an extra unit of a product or service.

Average Total Cost

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

Marginal Cost

The expense associated with creating an extra unit of a product or service.