Firms Need Both Tough Customers and Competitors to Push Them

question 18

True/False

Firms need both tough customers and competitors to push them.

---

Definitions:

Output

The total amount of goods or services produced by an individual, firm, or country within a given period.

Compact Disc Inputs

Not a standard economic key term, likely refers to inputs required for the production of compact discs as part of a business's operations.

Larger Percentage Increase

A situation where the rate of increase in a particular variable is higher relative to other comparable measures or periods.

Average Costs

The total cost of production divided by the number of units produced, giving the cost per unit of production.