If You Were Evaluating Your College Administration for Effective Leadership

question 40

Multiple Choice

If you were evaluating your college administration for effective leadership behaviors,you need to look for:

• A)their ability to husband and protect resources from misuse.
• B)their short-term focus,their ability to see the detail needing to be accomplished.
• C)the ability to encourage creativity in employees.
• D)All of these things.

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Definitions:

Average Fixed Cost

The fixed costs of production (costs that don't change with the level of output) divided by the quantity of output produced.

Marginal Product

The additional output resulting from a one-unit increase in the input of a particular productive resource, holding all other inputs constant.

Average-Total-Cost

The cost per unit of output, calculated by dividing the total cost (fixed and variable costs) by the total quantity produced.

Marginal-Cost

The expense associated with producing one additional unit of a good or service, critical for decision-making in business and economic policy.