Which of the Following Is Used to Explain Why a Consumer's

question 92

Multiple Choice

Which of the following is used to explain why a consumer's willingness to buy Microsoft Office increases as the number of other people who use Microsoft Office increases?

• A)Network externalities
• B)Market failure
• C)Diminishing marginal utility
• D)The income effect of a price change

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Definitions:

Strategic Importance

The significance of an action, decision, or project in relation to the overall goals, objectives, and long-term success of an organization.

Master Schedule

A detailed plan that outlines the production and delivery schedule of final products to ensure the efficient management of production operations.

Master Production Schedule

A timetable that specifies what is to be made and when.

Work Centre

is a specific physical location in a manufacturing facility where tasks related to production are carried out, often equipped with necessary machinery and labor.