When a Company Makes Products Available Where They Are Convenient

question 68

Multiple Choice

When a company makes products available where they are convenient for consumers,it creates which type of utility?

• A) time
• B) form
• C) place
• D) possession
• E) leisure

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Definitions:

Marginal Cost

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

Fixed Costs

Costs that do not vary with the level of output or production in the short term, such as rent or salaries.

Variable Costs

Expenses that vary directly with the level of production or sales volume, such as materials and labor.

Output

The total amount of goods or services produced by a company, industry, or economy during a given period.