An Approach to the New Product Question Developed by H

question 19

Multiple Choice

An approach to the new product question developed by H. Igor Ansoff is termed

• A) corporate marketing.
• B) marketing mix.
• C) growth vectors.
• D) benchmarking.

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Definitions:

Short-Run Average Total Cost (ATC₂)

The total cost divided by the quantity produced in the short-run, where some inputs are fixed.

Diminishing Marginal Returns

A principle stating that if one factor of production is increased while others are kept constant, the resulting increase in output will eventually decline.

Short-Run Average Total Cost (ATC)

The total cost per unit of output in the short run, where some factors of production are fixed.

Profit-Maximizing Level

The output level at which a firm achieves the highest profit, where marginal revenue equals marginal cost.