Which Quadrant in the Matrix Below Represents Attributes of a Good

question 36

Multiple Choice

Which quadrant in the matrix below represents attributes of a good service guarantee?   

• A) (a)
• B) (b)
• C) (c)
• D) (d)

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Definitions:

Marginal Revenue

The profit enhancement from selling one more unit of a product or service.

Marginal Cost

The increase in total cost that arises when the quantity produced is incremented by one unit.

Total Profits

The financial gain obtained after subtracting total costs from total revenue over a period.

Marginal Revenue

The boost in income resulting from the sale of one more unit of a product or service.