A Characteristic of a Service Is That It Is _____

question 16

Multiple Choice

A characteristic of a service is that it is _____, since it cannot be stored and must be consumed simultaneously with its creation.

• A) definite
• B) separable
• C) heterogeneous
• D) tangible
• E) perishable

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Definitions:

Marginal Costs

The added cost of producing one additional unit of a product or service.

Indifferent

A state of having no preference between two or more options, showing neither favor nor disfavor.

Variable Costs

Costs that vary directly with the level of production or sales volume.

Average Costs

The total costs (fixed and variable) of production divided by the total quantity of output, indicating the cost of producing each unit.