Product Extension and Refinement

question 138

Multiple Choice

Product extension and refinement

• A) shorten the product life cycle.
• B) extend the product life cycle.
• C) are too costly for most firms.
• D) take place during basic research.
• E) end the product life cycle.

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Definitions:

Equilibrium Constant

A numerical value that represents the ratio of the concentrations of products to reactants at equilibrium in a chemical reaction.

Products

Substances that are formed as the result of a chemical reaction, located on the right side of a chemical equation.

Reactants

Compounds available at the start of a chemical reaction, which are utilized to form the final products.

Equilibrium Constant

A numerical value that represents the ratio of concentrations of products to reactants at equilibrium in a chemical reaction.