All of the Following Are Forms of Utility Created by Marketing

question 107

Multiple Choice

All of the following are forms of utility created by marketing processes EXCEPT .

• A)time utility
• B)price utility
• C)form utility
• D)place utility
• E)possession utility

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Definitions:

Economic Profit

The profit a company makes after subtracting both its explicit and implicit costs, including opportunity costs, from its total revenues.

Innovation

The introduction of new ideas, products, or methods, aiming at improving efficiency, value, or creating something novel.

Profit-Maximizing

A strategy aiming to achieve the highest possible profit from business operations.

ATC

Short for Average Total Cost, ATC represents the total cost per unit of output, calculated by dividing the total cost by the quantity produced.