When Automakers Include Air Bags,cruise Control,satellite Radio,and GPS Systems in Their

question 58

Multiple Choice

When automakers include air bags,cruise control,satellite radio,and GPS systems in their consumer products,these features are considered to be quality ________.

• A)killers
• B)drivers
• C)enhancers
• D)aesthetics
• E)determinants

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Definitions:

Average Cost

It refers to the total cost divided by the number of goods or services produced.

Monopolist

A sole provider of a good or service in a market, facing no direct competition, which often results in the power to set prices.

Marginal Cost

The cost associated with producing an additional unit of a product, emphasizing its importance in economic decision-making.

Average Cost

The total cost of production divided by the quantity produced, measuring the cost on a per-unit basis.