The Statement "In the Supermarket,lettuce Wilts; in a Broadway Show,the

question 25

Multiple Choice

The statement "in the supermarket,lettuce wilts; in a Broadway show,the curtain goes up" refers to which characteristic of services?

• A) the high variability in services
• B) the inseparability of the services from its provider
• C) low tangibility
• D) inability to stockpile inventories

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Definitions:

Reciprocals

Mathematical expressions that represent the inverse of a given number or quantity, such that the product of a number and its reciprocal equals one.

Present Value

The present calculation of a future monetary amount or series of cash inflows, using a particular return rate.

Cash Flows

The sum of all money transfers into and from a business, significantly altering its capacity to handle liquid assets.

Annuity

A financial product delivering fixed payments to an individual, typically over a period of time or for life, often used for retirement savings.