Because Cruise Ships International Currently Has Limited Financial and Personnel

question 12

True/False

Because Cruise Ships International currently has limited financial and personnel resources, it should avoid concentrated marketing until its resources are more substantial.

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Definitions:

Marginal Costs

The increase in cost due to the production of one further unit of a product or service.

Total Cost Function

An equation that shows the overall cost incurred by a firm in the production process, including both fixed and variable costs, as a function of the quantity of output produced.

Fixed Cost

Business expenses that remain constant regardless of the level of production or sales, such as rent, salaries, and insurance premiums.

Price Elastic

describes the responsiveness of the quantity demanded of a good to a change in its price.