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Jauron Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During September, the kennel budgeted for 2,300 tenant-days, but its actual level of activity was 2,310 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for September:
-The administrative expenses in the planning budget for September would be closest to:
Marginal Cost
The extra expense associated with manufacturing an additional unit of a product or service.
Profit-maximizing Output
The point of production where a company attains its maximum profit.
Short-run Data
refers to information or statistical figures that capture economic activities or trends over a relatively brief period, emphasizing immediate effects rather than long-term patterns.
Competitive Firm
A business operating in a market where it has little to no influence on the prices of its products due to the presence of numerous competitors.
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