The Figure Given Below Shows the Cost Curves of a Firm

question 34

Multiple Choice

The figure given below shows the cost curves of a firm. Figure 22.3 ATC: Average Total Cost
AVC: Average Variable Cost
MC: Marginal Cost
In Figure 22.3, what is marginal cost at a quantity of 120 units?

• A)$35
• B)$40
• C)$55
• D)$60
• E)$4, 800

Understand the key elements of job descriptions and their importance in organizational structure.

Comprehend the concept of intrapreneurship and its benefits within a company.

Recognize the steps and components involved in the job description process according to the U.S. Small Business Administration.

Identify the attributes and advantages of a learning organization.

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Definitions:

Target Costing

A pricing method that involves determining a product's selling price and then subtracting desired profit to arrive at a target production cost.

Target Costing

A pricing strategy where the selling price of a product is determined first, and then the manufacturing cost is managed to meet that target price.

Price Control

Government or company policies aimed at regulating or setting prices for goods and services in a market.

Economic Value

The quantification of the advantage that a product or service delivers to an economic participant.