-Using the Values for the Marginal Benefit and the Marginal

question 426

Essay

-Using the values for the marginal benefit and the marginal cost of a bushel of apples given in the table above, what is the allocatively efficient quantity of apples? Suppose 10 million bushels of apples are produced. Should the quantity be increased or decreased? What if 20 million bushels are produced; should the quantity be increased or decreased?

Identify components, such as dominant values and philosophies, as representatives of organizational culture.

Understand issues of external adaptation and survival that organizations face.

Recognize major challenges that influence the formation of organizational culture.

Identify visible aspects of organizational culture.

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Definitions:

Swords

Weapons with a long, edged blade used for cutting, thrusting, or as a ceremonial symbol.

Marginal Cost

Incremental cost incurred when one more unit of a product or service is produced.

Total Variable Cost

The sum of expenses that change in proportion to the activity or volume of production.

Average Variable Cost

The total variable costs divided by the quantity of output produced; it fluctuates with changes in output.