Which of the Following Would Be Classified as a Product-Level

question 72

Multiple Choice

Which of the following would be classified as a product-level activity

• A)Cafeteria facilities available to and used by all employees.
• B)Machine setup for a batch of a standard product.
• C)Advertising a product.
• D)Human resource management.

---

Definitions:

License Fee

A charge paid for permission to use intellectual property, enter a market, or perform certain activities within a regulatory framework.

Economic Profit

The surplus remaining after total costs are subtracted from total revenue, considering both explicit and implicit costs.

Marginal Revenue

The additional income earned by a firm from selling one more unit of a good or service.

Marginal Cost

The cost of producing one additional unit of a good or service, often used in decision-making to determine the optimal level of production.