In Terms of the Value Net, Which of the Following

question 40

Multiple Choice

In terms of the value net, which of the following statements is true of complementors?

• A)They are individuals or groups that purchase, or receive, the outputs of an organization.
• B)They are individuals, groups, or organizations that provide important inputs for an organization.
• C)They are individuals or organizations that make customers value an organization's output more because of its product or service.
• D)They are activities of companies designed to further some social objective and that lie beyond the direct economic interests of the organization.

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Definitions:

Output

The total amount of goods or services produced by a company or a production process.

Cost Function

A mathematical relationship that describes how the costs incurred by a firm change with various levels of output.

Profit-Maximizing

A strategy or approach taken by firms to adjust their production and pricing to achieve the highest possible profit.

Output

The amount of products or services generated by a business, sector, or nation during a specific period.