The Value We Place on Ourselves in Areas Such as Our

question 41

Multiple Choice

The value we place on ourselves in areas such as our skills,abilities,talents,and appearance is known as our __________.

• A)self-awareness
• B)self-concept
• C)self-worth
• D)self-importance

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Definitions:

Marginal Revenue

Extra profit generated from the sale of one more unit of a product or service.

Marginal Cost

The additional cost incurred to produce one additional unit of a good or service.

Average Variable Cost

The variable cost of production (costs that change with output level) divided by the quantity of output produced.

Product Differentiation

A marketing strategy where a company attempts to distinguish its product or services from the competition.