The Post-Sale Service and Disposal Cycle of Total-Life-Cycle Costing Consists

question 69

Multiple Choice

The post-sale service and disposal cycle of total-life-cycle costing consists of the following stages:

• A)market research, product design, and product development.
• B)research, development, and engineering, manufacturing, and post-sale service and disposal.
• C)selling price, target profit, and target cost.
• D)rapid growth,transition,and maturity.

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Definitions:

Very Elastic

A description of a demand or supply curve which shows that the quantity demanded or supplied changes significantly as price changes.

Unit Elastic

A situation in which a one percent change in price causes an equal percentage change in quantity demanded or supplied.

Very Inelastic

Describes a situation where the demand or supply for a product is barely affected by changes in the price.

Calculate Elasticity

entails determining the degree to which the quantity demanded or supplied of a good changes in response to a change in its price.