If One Defines Incremental Cost as the Change in Total

question 8

Multiple Choice

If one defines incremental cost as the change in total cost resulting from a decision,and incremental revenue as the change in total revenue resulting from a decision,any business decision is profitable if:

• A) it increases revenue more than costs or reduces costs more than revenue
• B) it decreases some costs more than it increases others (assuming revenues remain constant)
• C) it increases some revenues more than it decreases others (assuming costs remain constant)
• D) all of the above
• E) b and c only

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The quality of being resistant to or capable of withstanding damage by fire.

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A person or entity covered under an insurance policy, receiving financial protection or reimbursement against losses from an insurance company.

Sculptor

An artist who specializes in creating three-dimensional works of art through carving, modeling, or assembling materials like stone, metal, or wood.

Insurance Policy

A contract between an insurer and policyholder outlining the terms under which insurance coverage is provided, including the risks covered, premium costs, and duration of coverage.