Product Mix ________ Refers to the Number of Different Product

question 161

Multiple Choice

Product mix ________ refers to the number of different product lines the company carries.Sony markets a wide range of consumer and industrial products around the world,from TVs to semiconductors.

• A)length
• B)height
• C)width
• D)perimeter
• E)depth

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Definitions:

Production Function

The relationship between the quantity of inputs a firm uses and the quantity of output it produces.

Inputs

The resources, such as labor, materials, and capital, that are used in the production process to produce goods or services.

Output

The total amount of goods or services produced by a company, industry, or economy within a specified time period.

Total Cost Curve

A graphical representation showing the total cost of producing different levels of output in the short run or long run.