Which of These Pairs of Functions Would Tend to Be

question 88

Multiple Choice

Which of these pairs of functions would tend to be affected most dramatically by a product or service redesign?

• A)Operations and Accounting
• B)Marketing and Operations
• C)Finance and Human Resources
• D)Engineering and Accounting
• E)Finance and Engineering

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Definitions:

Total Utility

The total satisfaction received from consuming a certain quantity of goods or services.

Marginal Utility

is the additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.

Total Utility

The total satisfaction or benefit received by consuming a given total quantity of a good or service.

Market Equilibrium

A market state where the supply of goods matches demand, with no incentive for price to change.