Benefits and Sacrifices Are Both Considered When Assessing Customer Value

question 39

Multiple Choice

Benefits and sacrifices are both considered when assessing customer value. Sacrifices include:

• A)the purchase price.
• B)acquisition costs.
• C)operations costs.
• D)All of the answer choices.
• E)Both the purchase price and acquisition costs.

---

Definitions:

Output

The total amount of goods or services produced by an individual, company, or economy during a specific period.

Negative Marginal Returns

Occurs when adding an additional factor of production actually decreases the total output, which can happen when there is too much input for the available resources or technology.

Input

Resources used in the production process to create goods or services, including labor, raw materials, and capital.

Cost Curves

Graphs that illustrate the cost of producing various levels of output, typically including curves for average costs and marginal costs among others.