In Figure 8

question 126

Multiple Choice

In Figure 8.2,an increase in the cost of an input in the production process is best represented as a movement from point

• A)A to point B.
• B)A to point C.
• C)C to point B.
• D)B to point A.

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Definitions:

Business Model

A conceptual structure that supports the viability of a product or company and includes the purpose, target audience, revenue model, and details of financing, among other elements.

Startups

are newly established businesses, typically in the technology sector, characterized by their innovative products or services and scalability.

Flexible

Capable of being easily modified to adapt to new conditions or circumstances without significant difficulty.

Customer Value Proposition (CVP)

A business or marketing statement that describes why a customer should buy a product or use a service, focusing on the unique value the product or service provides.