A cost center is
a. evaluated based on minimizing costs within the division
b. evaluated based on maximizing costs within the division
c. evaluated based on minimizing profits generated by the division
d. evaluated based on maximizing profits generated by the division
a
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If, in response to a decrease in the price of grapes, the quantity of grapes demanded increases, economists would describe this as
A) a change in consumer income. B) an increase in quantity demanded. C) an increase in consumers' taste for grapes. D) an increase in demand.
An increase in aggregate demand will have a smaller long-run effect on real GDP if the: a. aggregate demand curve is flat
b. short-run aggregate supply curve is horizontal. c. economy is well below potential output. d. economy is already at potential output. e. aggregate demand curve is fairly steep.