Which of the Following Is Correct When Describing the Meaning

question 121

Multiple Choice

Which of the following is correct when describing the meaning of the acronym FAB

• A)the features and basic attributes of a product
• B)the features and basic benefits of a product
• C)the features, actual attributes, and benefits of a product
• D)the features, advantages, and benefits of a product
• E)the future advantages and benefits of a product

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Definitions:

MRP

Marginal Revenue Product, which refers to the additional revenue generated from employing one more unit of a resource.

Perfectly Elastic

A situation in which the demand or supply for a good or service is infinitely responsive to changes in price.

Pure Rent

Pure Rent refers to the income earned from the use of land or other natural resources when supply is perfectly inelastic.

Fixed Supply

A situation where the quantity of a good available is constant and does not change in response to price changes.