Core Competency Implies

question 1

Multiple Choice

Core competency implies:

• A)a firm produces one single product.
• B)a firm hires only one type of employee.
• C)a firm focuses on only one type of customer.
• D)a firm does one thing better than it does other things.
• E)a firm must be competent at its core - its executive level.

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Definitions:

Variable Costs

Costs that vary directly with the level of production or output.

Output

The total amount of goods or services produced by a company, industry, or economy.

Marginal Product

The additional output generated by employing one more unit of a particular input, holding all other inputs constant.

Total Product

The overall quantity of output produced by a firm from a given quantity of inputs.