Maksim Has Created a New and Innovative Product That He

question 33

Multiple Choice

Maksim has created a new and innovative product that he wants to rush into the market to give him an immediate advantage over his competitors.Which is not a likely problem Maksim will face when releasing his product early?

• A)high repair costs
• B)high design costs
• C)operations problems that cannot be easily fixed
• D)sales problems

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Definitions:

Shortage

A market condition where the demand for a good or service exceeds its supply at a particular price.

Bags Per Month

A measurement of quantity, often used to describe the production or consumption rate of bags within a monthly period.

Market Equilibrium

occurs in a market when the quantity supplied equals the quantity demanded, typically represented by the intersection of supply and demand curves.

Surplus

An excess of production or supply over demand, often resulting in a decrease in prices.