Total cost refers to
A. the change in expenses that results from producing and marketing one additional unit of a product.
B. the total expense incurred by a firm in producing and marketing a product, which equals the sum of fixed cost and variable cost.
C. the sum of the expenses of the firm that vary directly with the quantity of a product that is produced and sold.
D. the sum of the expenses of the firm that are stable and do not change with the quantity of a product that is produced and sold.
E. the average amount of money received for selling one unit of a product or simply the price of that unit.
Answer: B
You might also like to view...
The adjusting entry to record the amortization of a discount on bonds payable is
A) debit Discount on Bonds Payable, credit Interest Expense B) debit Interest Expense, credit Discount on Bonds Payable C) debit Interest Expense, credit Cash D) debit Bonds Payable, credit Interest Expense
The ethical norm of ________ includes possessing anything that someone else was willing to grant you
A) freedom B) security C) justice D) efficiency
________ are actions taken to ensure that a work group or organization reaches its goals.
A. Task performance behaviors B. Decision styles C. Group maintenance behaviors D. Organizational structures E. Situational approaches
The aggregate planner must make a trade-off between capacity, inventory, and backlog costs
Indicate whether the statement is true or false.