Hubert Needs an Instruction Manual for His New Product

question 8

Multiple Choice

Hubert needs an instruction manual for his new product. He needs a small team of technical writers to work together closely to rapidly write the manual. He needs them to communicate ideas quickly, creatively, and affordably. Which of the following group techniques should Hubert consider?

• A) nominal and electronic
• B) nominal and interacting
• C) brainstorming and electronic
• D) electronic and interacting
• E) interacting and brainstorming

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Definitions:

Economic Profits

Profits calculated by subtracting total explicit and implicit costs from total revenues; measures the excess over both the opportunity cost of capital and the wages that business owners could have earned elsewhere.

Marginal Cost

The escalation in total expenses incurred from the production of an additional unit of a product or service.

Marginal Costs

The change in total cost that comes from making or producing one additional item.

MC Curve

A graph representing the marginal cost of producing each additional unit of output in a firm or economy.