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An executive was trying to think of ways to increase sales of ballpoint pens among young people. While walking down a street with lots of neon signs, the executive got the idea that young people would want to buy pens with ink in bright neon colours and with pen containers that glow in the dark. This situation is an example of:
Minimize Costs
The process of finding ways to decrease expenses and reduce the amount it costs to produce a good or offer a service.
Units of Labor
Quantitative measures representing the workforce or the effort exerted by workers in the production of goods and services.
Dress Factory
A manufacturing facility where dresses are produced in large quantities.
Production Isoquants
Curves that represent combinations of various inputs that result in the same level of output, used in the analysis of production technology.
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