The New Service Development Process Cycle Contains All but One

question 6

Multiple Choice

The new service development process cycle contains all but one of the following activities.

• A) Engineering.
• B) Analysis.
• C) Development.
• D) Full launch.

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Definitions:

Marginal Social Benefit

The additional benefit to society as a whole from increasing the output of a good by one unit.

Private Cost

The costs directly incurred by those who are producing or consuming goods or services.

Marginal Social Benefit

The additional gain to society as a whole from an extra unit of production.

Marginal Social Cost

The cost to society of producing an additional unit of a good or service, including both the private costs and any external costs.