For Your Personnel File, You Have Been Asked to Write

question 143

Essay

For your personnel file, you have been asked to write a 40-word paragraph describing a person who has greatly influenced your life. In your paragraph, you should describe this person and some of the things he or she does and explain his or her relationship to you.

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Definitions:

AVC (Average Variable Cost)

The total variable costs (costs that vary with the level of output) divided by the quantity of output produced, representing the variable cost per unit.

MC (Marginal Cost)

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

Break-Even Point

The level of production or sales at which total revenues equal total costs, resulting in no profit or loss.

Shutdown Point

The shutdown point is the level of output and price at which a business covers its variable costs; operating below this point would lead the firm to losses greater than its fixed costs.