At a Perfectly Competitive Equilibrium with Production and Trade,the Slope

question 114

Multiple Choice

At a perfectly competitive equilibrium with production and trade,the slope of the production possibility curve will be

• A) equal to the slope of the price line faced by the consumers.
• B) steeper than the slope of the price line faced by consumers.
• C) flatter than the slope of the price line faced by consumers.
• D) either steeper or flatter than the price line faced by the consumers, depending upon the relative preferences of the consumers.

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Definitions:

Services Marketing

Marketing practices tailored to promote and sell intangible services, as opposed to tangible products.

Service Quality

The assessment of how well a delivered service meets the customer's expectations and the difference between perceived service and expected service.

Dimensions

Refers to the measurable attributes of an object, including height, width, depth, and length.

Intangibility

A characteristic of services that means they cannot be seen, touched, tasted, or measured in the same manner as physical goods.