_____ Is a Primary Activity in a Value Chain That

question 39

Multiple Choice

_____ is a primary activity in a value chain that involves processing raw materials into finished goods and services.

• A)Operations
• B)Service
• C)Procurement
• D)Logistics

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Definitions:

Profit-Maximizing Firms

Companies that operate with the goal of making the highest possible profit from their activities.

Marginal Cost

The cost incurred by producing one additional unit of a product or service.

Downward-Sloping Demand

A concept in economics that illustrates how demand for a good or service decreases as the price increases, assuming all other factors remain constant.

Monopoly

A monopoly is a market structure characterized by a single seller dominating the market, facing no competition, which can influence prices and control the supply of goods or services.