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Many Small Incremental Changes to Project Objectives, Which in Total

question 104

Essay

Many small incremental changes to project objectives, which in total significantly expand the scope are referred to as ________ .


Definitions:

AVC

Average Variable Cost; the total variable costs divided by the quantity of output produced.

ATC

Average Total Cost, which is the total cost divided by the quantity of output produced, representing the per-unit production cost.

Marginal Product

The additional output derived from the addition of one more unit of a variable input, holding all other inputs constant.

Marginal Cost

refers to the increase in cost when producing one additional unit of output.

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