A Live Theater Performance Cannot Be Touched Like a Physical

question 116

Multiple Choice

A live theater performance cannot be touched like a physical object,but is still considered a product.To a marketer,this is an example of

• A)a utility.
• B)a production.
• C)a value.
• D)a service.
• E)an idea.

---

Definitions:

Production Function

A mathematical model that describes the relationship between the inputs used in production and the output of goods or services.

Technically Efficient

A condition where a firm or economy utilizes the least amount of input resources to produce a given level of output.

Lowest Cost

Refers to the scenario where a good or service is produced and delivered at the minimum possible expense.

Inputs Available

The resources, such as labor, capital, and materials, that are accessible for production processes.